Amazon Investors Emboldened by 3 Million New Prime Members
- Holiday bump in memberships signals growth continues
- Seattle-based e-tailer's shares more than doubled in 2015
An employee seals a box at the Amazon.com Inc. fulfillment center in Phoenix, Arizona.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Amazon.com Inc. shareholders are cheering the company’s big push to accommodate last-minute holiday orders and a coinciding shift of consumer spending from brick-and-mortar stores to websites and smartphone applications.
The company’s shares have more than doubled this year and are closing in on $700, with some analysts raising their price targets to $800 and higher. Investor enthusiasm suggests a strong fourth quarter will endure into 2016, enabling Amazon to continue to gobble up market share even as rivals such as Wal-Mart Stores Inc. and Target Corp. expand their online delivery options.