Amazon shares to jump 20 per cent in 2019
Online marketplace Amazon is set to see shares jump more than 20 per cent over the course of 2019, according to a report from Pivotal Research Group analyst Brian Weiser.
The report posits the company’s value reaching close to $1.4 trillion) (US$1 trillion) by the end of 2019, with a price of $2686.46 per share (US$1920), according to CNBC.
“Despite its current massive size, we see Amazon’s opportunities as mostly unconstrained based on a successful track record of capitalizing on consumer and IT department spending,” Wieser wrote in a note sent to investors on Monday.
The analyst also predicted the company would increasingly rely on its physical locations, such as Amazon Go, Whole Foods and Four-Star, in order to generate further market share, noting that Amazon will become increasingly indifferent as to whether a sale is fulfilled online or in-store.
The online business recently revealed a ‘record-breaking’ holiday period in which more than one billion items were shipped in the US through Amazon Prime, and which Amazon chief executive of worldwide consumer Jeff Wilke called “our best yet”.
Amazon Australia country manager Rocco Braeuniger noted the company’s progress down-under, adding that the marketplace’s product selection had increased five-fold over the period.
This story originally appeared on sister-site Inside Retail Australia.