In a note titled “Not-so-subtle Reminder Amazon is Still King,” Benchmark analysts said Amazon reminded the world of its “size and capacity advantage,” and raised his price target by $150 to $2,400.
“Amazon is easily less than halfway through transforming retail by exploiting deep fulfilment moats established over many years,” Canaccord Genuity analyst Michael Graham said. “Overall, in our view Amazon’s ability to re-accelerate revenue growth at such a large scale is evidence that its investments are paying off,” Anmuth said.
Amazon has been in and around the $1 trillion club for a while now, accompanied by the other tech giants like Apple Inc, Alphabet Inc and Microsoft Corp.Investors and analysts are touting Visa Inc and Mastercard Inc as the next companies in line to move in to the elite list.