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Amazon Shares Break Out To New High As Optimism Stays Strong

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Shares of Amazon ( AMZN ) broke out to a new high Thursday as the stock continues to accelerate from a strong holiday sales period.

[ibd-display-video id=3063208 width=50 float=left autostart=true] Amazon shares were up 1%, near 1,214.66 in morning trading on the stock market today , passing a record high of 1,213.41 set on Nov. 27. Shares also passed a buy point of 1,213.51. The buy zone goes to 1,274.19 before reaching extended territory.

The e-commerce leader has significant momentum heading into 2018 and could beat fourth-quarter revenue estimates if the expectations of a Wall Street analyst prove accurate.

Amazon reported third-quarter results on Oct. 26 that crushed earnings views and topped revenue estimates as shares took off. For the fourth quarter, Amazon said it expects revenue in the range of $56 billion to $60.5 billion, implying growth of 28% to 38% from the year-ago quarter.

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Amazon last week touted its biggest holiday sales season ever. The company said that in one week alone, more than 4 million people joined its Prime service, either through free trials or paid memberships. Amazon scored record sales on Cyber Monday and Black Friday as consumers responded to a raft of promotions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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