As it's done each year thanks to its ongoing double-digit growth rate, Amazon.com (AMZN) on Wednesday announced it had another record-breaking holiday season, though it did not release sales figures.
XAmazon said it sold more items than ever before, with customers shopping at record levels from a wide selection of products. Best-sellers included the Echo Dot and Fire TV Stick 4K, the L.O.L. Surprise! Glam Glitter Series Doll, and Bose QuietComfort wireless headphones. It said customers purchased "millions of Amazon Fire TV, Fire Tablet, and Kindle products."
The company said "tens of millions" signed up for its Amazon Prime membership program, either through a free trial or by paying for a membership. One billion items were shipped with Prime in the U.S. this holiday season.
Amazon stock climbed 9.5% to close at 1,470.90 on the stock market today.
Wall Street analyst John Blackledge at Cowen rated Amazon as his "best idea" for 2019. Growth drivers include e-commerce expansion into large retail verticals, such as apparel and groceries, and expansion into global markets. He said Amazon's cloud-computing unit, Amazon Web Services, "should enjoy years of secular tailwinds."
But Amazon stock has tumbled 28% since hitting a record high of 2,050.50 on Sept. 4, a day when the company's market valuation briefly topped $1 trillion.
During the holiday season, customer use of the Amazon Echo line of smart speakers more than tripled this year compared to last year.
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The post Amazon Holiday Sales Touted As Record-Breaking Season appeared first on Investor's Business Daily.
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