Amazon Stock: Is Amazon.com, Inc. (NASDAQ:AMZN) a $1,000 Stock?
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Amazon Stock: Is Amazon.com, Inc. a $1,000 Stock?
Amazon's retail business shows little sign of slowing down. The company continues to benefit from "Prime" and favorable foreign exchange rates continue to boost profits. Given most of Amazon's costs are fixed, growing sales will likely flow directly to the bottom line.
Meanwhile, the company is finding new businesses to conquer. On Tuesday, Amazon launched "Video Direct," which could become a direct competitor to Alphabet's YouTube. Content creators are able to upload videos and will receive a cut of any ad revenues.
Kirjner's price target is now the highest on the Street, but he's not the only one backing up the truck on Amazon stock.