Cloud Computing: Could Amazon hit $1,000 a share?
October 27, 2016
Grazed from USAToday. Author: Elizabeth Weise.
Wall Street is bullish on Amazon, with some suggesting its stock could hit $1,000 in the not too distant future. Rising e-commerce sales, growing Prime memberships and further expansion of its cloud service AWS are expected to provide solid results when the Seattle company posts its third-quarter financial results Thursday after the markets close.
Analysts polled by S&P Global Market Intelligence anticipate Amazon (AMZN) will report revenue of $32.654 billion and a profit of 82 cents per share. That compares with 17 cents in the year-earlier period. Amazon’s third-quarter guidance was net sales of between $31.0 billion and $33.5 billion…
“Amazon enters the holiday quarter on a roll after strong sales in Q3, including an improved Prime Day in July. Growth is likely to easily exceed the 16.1% growth in U.S. retail e-commerce sales,” said eMarketer retail analyst Yory Wurmser…
Read more from the source @ http://www.usatoday.com/story/tech/news/2016/10/26/amazon-thursday-earnings-aws-cloud-prime-retail/92719590/