From CNBC:
Amazon shares will soar in the next year thanks to its rapid pace of innovation and increased price flexibility, according to Goldman Sachs.
Goldman expects big things from the e-commerce giant at its annual re:Invent conference this week, where analyst Heath Terry sees a number of product announcements. Terry reiterated his buy rating and increased his price target on Amazon to $1,450 from $1,300, implying 21 percent upside from Monday’s close.
“The number of product announcements made during re:Invent has significantly increased in recent years, with more than 15 announced in 2016 versus less than 10 in each of its first 3 years,” Terry wrote on Tuesday.
. . . .
Led by billionaire Jeff Bezos, the company has seen its shares appreciate roughly 60 percent since the start of January, preceding what is expected to be a strong holiday season.
Data from Adobe Analytics showed online Black Friday sales rose nearly 17 percent from last year.
Link to the rest at CNBC
PG is anything but an expert on the stock market, but a prediction (from a credible source) of a 20% single-year increase in the value of a company as large as Amazon is astounding.
An investment in Amazon common stock five years ago would be worth almost 5X the invested amount today. An investment of $1000 in Amazon stock ten years ago would be worth over $12,000 today.
Again, PG is not an expert on the stock market or investing and makes no prognostications about the growth of Amazon’s share price in the future. He cites the share price increase strictly as one measure of Amazon’s extraordinary rate of business growth.
PG, you’re absolutely right about Amazon’s stock growth. I invested some of my IRA in Amazon in 2012. Needless to say I’m only sorry I didn’t invest more and sooner. I also think it’s not too late to get on the bandwagon.