2 weeks Ago By Peter Holmes
It was only a week ago that strong quarterly results saw Amazon’s stock rise by more than seven per cent to US$200 (A$304). In the wake of Donald Trump’s US election victory, the stock has again surged, with $US200 now well in the rear view mirror. For now, at least.
Just yesterday Bloomberg was reporting that the stock had motored past US$200 to US$201.45 (A$306.70), knocking out a peak from July.
But even that is old news. At the close of trade Wednesday in the US, one share in Amazon was trading at US$207.09 (A$315.
30), and in after hours trade it was hovering around the US$206 to US$207 range. Amazon chart for the year to date. It represented a 3.
8 per cent rise for the day, a 14.5 per cent rise for the past month, and a 38 per cent rise on the year to date. In August the stock dipped to about US$161 (A$245).
According to its Q3 2024 results, released on October 31, Amazon’s net sales increased 11 per cent to US$158.9 billion (A$242 billion) in the third quarter, compared with US$143.1 billion (A$218 billion) in the third quarter 2023.
North America segment sales increased 9 per cent year-on-year to US$95.5 billion (A$145 billion). Amazon chart for the past five years.
International segment sales increased 12 per cent year-on-year to US$35.9 billion (A$55 billion). The company’s cloud computing company Amazon Web Services segment sales increased 19 per cent year-on-year to US$27.
5 billion (A$42 billion). “As we get into the holiday season, we’re excited about what we have in store for customers,” said Andy Jassy, Amazon President and CEO. Amazon chart – in 1997 you could buy a share for $US9 cents.
“We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations; and there’s so much more coming, from tens of millions of deals ...
to over 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.” AWS re:Invent is on from December 2 to 6 in Las Vegas..
