Is Amazon a $3,300 Stock?
Amazon.com (NASDAQ: AMZN) has been one of the undisputed winners from the stay-at-home economy. With many consumers sheltering in place and remote work becoming the rule rather than the exception, the e-commerce giant scrambled to handle the unprecedented demand, hiring hundreds of thousands of workers to staff its fulfillment centers and delivery services. As a result, Amazon stock has outperformed the broader market so far in 2020, gaining 36% year to date, while the S&P 500 is essentially flat.
Investors are becoming increasingly bullish on Amazon, and at least one analyst is predicting the stock could soar as much as 33% in the coming year, making him the biggest Amazon bull among his Wall Street peers.
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Source Fool.com
