Photo by Christian Wiediger on Unsplash

Amazon’s stock rose to its highest level in more than two months on Friday after a research group forecast the online retailer’s North American retail operation will outperform Wall Street estimates.

According to Reuters, Amazon’s stock rose 4% to $108, its highest level since February 3, giving the Seattle-based business a market capitalization of $1.1 trillion.

YipitData data suggests that Amazon’s March-quarter North American net sales would exceed analysts’ forecasts and that April sales will be ahead of Wall Street’s second-quarter consensus, the research firm told Reuters.

In a research note issued on Friday, JPMorgan analyst Dough Anmuth stated that he expected e-commerce would outperform traditional stores by expanding into groceries, appliances, and other categories.


Please enter your comment!
Please enter your name here