Amazon Closes In on $1 Trillion With Morgan Stanley's Blessing
- Retailer’s market cap nears milestone with fourth day of gains
- Analyst gave Amazon, Alphabet highest price targets on Street
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Amazon.com Inc. is headed for its biggest gain in four months, pulling within $26 billion of becoming America’s second trillion-dollar company, after Morgan Stanley said sales growth remains strong.
The rally extends a run in which Jeff Bezos’ online superstore has surged almost 550 percent since the end of 2014, adding roughly $800 billion to its market value. Apple became the first U.S. company with a 13-digit capitalization this month, crossing over for the first time on Aug. 2.