Amazon can’t and won’t stop growing, according to one firm that upgraded the stock on Monday.
“We believe Amazon’s established dominance in U.S. is sustainable with Prime, mobile penetration and third-party growth,” Needham analyst Kerry Rice wrote in a note to investors. Further, Amazon Web Services will continue to be a “key driver” for the e-commerce giant to grow its profits, he added.
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Over the next five years, Rice said he anticipates Amazon to grow its U.S. market share by 16 percent, which would make the company a majority player — dominating more than 50 percent — in retail. Needham estimated Amazon’s 2016 market share in the American retail sector to be 34 percent, based on gross merchandise volume.
Link to the rest at CNBC – note that there is an annoying auto-playing video with sound at the link