Amazon stock AMZN is doing great this year. Market analysts are saying it can hit $1000 per share soon. Right now it is trading above $700 per share. On February 9, Amazon stock (AMZN) hit its lowest point of 2016, at $482. This was a week after disappointing Q4 earnings sent shares tumbling. But in the three months since that date, the stock has soared up 42%, an almost unprecedented gain. It has some analysts saying that even in the $700s, the stock is undervalued. Bernstein, in a note this month, predicts the price could hit $1,000 before 2017.
After Amazon hit a new intraday all-time high of $731.50 on Monday, the “Fast Money” traders debated whether or not it was worth holding the stock and whether it could cross $1,000 before Alphabet. Trader Pete Najarian said that Amazon is a good bet because of CEO Jeff Bezos, despite the shares trading at a very high multiple.
Future prospects of Amazon stock AMZN are looking very bright. Amazon (AMZN) is poised to hold its lead position in cloud computing despite aggressive competition from Microsoft (MSFT) and Alphabet (GOOGL), in what could be a $62 billion market by 2020.
You should also read this post about the impact of Brexit on the global stock markets. Amazon is a solid company with a great CEO. Future prospects of Amazon company are highly bright as said above which makes this stock AMZN a solid stock that has the prospect of breaking the $1000 per share barrier in the next few months. In the end it all boils down to market expectations. If the market likes you, you have the force of momentum behind you. But in the long run, fundamentals count. The company should have solid performance behind it. It’s management should have a great reputation of innovation and creativity and its future business prospects should be bright. Amazon has got all these ingredients with it. Amazon has got a great CEO Jeff Bezos who launched this company and then propelled it to where it is now using his energy and creativity. Another CEO who is great is Mark Zuckerberg. He Mark Zuckerberg also has got great ideas for his company. Facebook and Amazon are two great companies.