A new Morgan Stanley report about Amazon is bullish to say the least. The firm upped its price target from $1,850 per share to $2,500, according to CNBC. That would give the company a truly whopping $1.2 trillion valuation, which is more than what Apple is currently worth.
The analysts wrote that Amazon’s high margin and very stratified revenue streams bode well for the company. Not only is its web-hosting arm, Amazon Web Services, seeing healthy growth, but its subscriptions programs and advertising products are also growing to new heights. All these elements, along with its international expansion, lead Morgan Stanley to see an even more profitable outlook for Amazon than ever before.
Currently, the stock is up nearly 1.5% at around $1,960 per share.