Why Amazon’s stock keeps hitting all-time highs – CNBC
The company’s investments in machine learning and infrastructure mean that Amazon is only going to get better about anticipating what you want, and get it to you faster.
Building on these investments will be key to Amazon’s future success, according to a recent note by Evercore. “This stands to drive not only greater overall customer satisfaction through shorter delivery times, narrower delivery windows and lower overall delivery costs, but operating margin expansion for Amazon as well,” analysts said in the note. (Evercore increased its price target to $1,015.)
Also worth mentioning, economic data have favored the stock recently.
Amazon is right at the intersection of two swelling industries, consumer and technology. Consumer confidence hit its highest level since the recession, a report said Tuesday, when Amazon bounced more than 2 percent, and consumer discretionary stocks led the S&P 500 to close more than 13 points higher. Meanwhile, the technology sector is on pace for its best quarter since the end of 2013, up 12 percent so far.
â€” CNBC’s Anita Balakrishnan contributed to this report.
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