Amazon Sales Surge Makes it a Stock to Watch Inc. (NASDAQ: AMZN) is one of the world’s strongest growth stocks and one of the most valuable overall with a market capitalization above $1.56 trillion. This month, a pullback in the market could make the stock more affordable, and it’s worth a closer look as the company reports a surge in eCommerce spending during the Coronavirus Pandemic.

Amazon will hire 100,000 workers to meet demand during the holiday quarter. Sales increased by 40% in the second quarter, and demand for retail products on Amazon is expected to be high throughout the rest of the year. Total revenue in Q2 was $88.9 billion, and the company generated $5.2 billion in net income. If the trend continues, 2020 could be the company’s best year on record.

This stock is pricey, but for investors focused on the long term, the high price can create stability and help to prevent high volume reactionary trading and volatility. Analysts predict an average target price of $3,665 per share, indicating that there will be a significant upside for investors who are willing to buy now and wait out the current market rout.

Key Data:

  • 1 Year Price Growth: 25%
  • YTD Price Growth: 92%
  • 3 Month Price Growth: 65%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.

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