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| Amazon returns to the trillion dollar club of companies after financial results exceeded expectations |
On Friday, Wall Street analysts announced that Amazon's revenue growth could not be stopped after the e-commerce giant returned to the corporate club with a market value of over $ 1 trillion.
The American company returned to the club after achieving better than expected financial results thanks to investments in accelerated operations and an increase in the number of Prime Prime members. Almost half of the 51 brokerage firms that deal with Amazon raised the company's 12-month target price target, which rose 9% to $ 2,036 in early Friday trading.
Amazon's net sales increased 21% to $ 87.4 billion, of which AWS (Amazon Web Services) increased 34%. AWS is the department responsible for selling data storage and cloud computing solutions. With more and more customers choosing to Prime, subscription fee revenue has increased by 32%.
It is worth noting that Amazon previously deposited trillions of dollars in clubs and currently includes major US technology companies such as Apple and Microsoft. Investors expect the following Visa and MasterCard companies to join the club.
Alphabet, the parent company of Google, announced its first entry into the billion dollar club in two weeks, but the current figures leave the club because its market value now stands at $ 991 billion.