Amazon Shares Hit $1,000, Showing E-Commerce, Cloud Prowess
- Investors put faith in company’s ability to maintain growth
- Changing shopping habits and business practices give a boost
Why Investors Are Excited About Amazon
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Amazon.com Inc.’s shares rose briefly just above $1,000 for the first time Tuesday, marking a new milestone for a company wooing investors by dominating online commerce and cloud computing.
Amazon hit an intraday high of $1,001.20 in New York before ending the day little changed at $996.70. The stock is up almost 40 percent from a year ago and more than double the 15 percent gain of the S&P 500 Index in the same period. Investors are thinking about how much further Amazon can grow as it tries to replicate its U.S. success abroad.