The all-encompassing maw of Amazon
NEW YORK -- Amazon.com Inc. shares surged as much as 23% Friday and hit an all-time high after the e-commerce's giant strong third-quarter results suggested the company is taking market share, even in a down economy, thanks to its business formula."Continued success in adding new customers," Morgan Stanley analyst Mary Meeker said, "indicates that Amazon.com's value proposition (lowest prices + best selection + great customer service) is succeeding in attracting consumers as they transition from offline to online in search of value."
Amazon shares, already up 82% this year, recently added 22% to $113.99.
-- an online story from the Wall Street Journal.
(Why doesn't this make me feel better about things?)
posted by D. B. Scott at
3:25 pm
1 Comments:
In some years I have spent $2000+ with Amazon.
Amazing service, amazing selection and great price.
It's the future...if you can hold off on your purchase and don't need it RIGHT AWAY, you win...BIGTIME.
So many predicted that amazon would die a painful death once it started selling all kinds of stuff OTHER than books...
Looks like the market believes otherwise. Now, if only amazon.ca could become more like amazon.com
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