Amazon.com Inc said on Tuesday that Cyber Monday once again proved to be the single busiest shopping day in the company’s history, as customers globally ordered more items than any other day.
The five renowned shopping days that begin with Thanksgiving and continue through Cyber Monday, also known as the Turkey 5, brought new records, as US clients ordered millions more items compared to the same period of 2017.
Amazon shares closed higher for a second consecutive trading session on NASDAQ on Tuesday. The stock inched up 0.01% ($0.09) to $1,581.42, after touching an intraday high at $1,597.47, or a price level not seen since November 16th ($1,614.48).
Shares of Amazon.com Inc have surged 35.23% so far in 2018 compared with a 0.32% gain for the benchmark index, S&P 500 (SPX).
In 2017, Amazon’s stock rose 55.96%, thus, it again outperformed the S&P 500, which registered a 19.42% return.
Globally, Amazon clients ordered over 13 million fashion items and over 18 million toys on Black Friday and Cyber Monday combined.
Over 180 million items were ordered by clients across Amazon.com over the Turkey 5 weekend, the e-commerce giant also said.
At the same time, sales by small and medium-sized businesses internationally went up by over 20% on this years Black Friday compared to a year earlier.
Throughout the Turkey 5 weekend, the best-selling items at Amazon 4-star and Amazon Books included the companys all-new Echo Dot, the Amazon Smart Plug, Becoming by Michelle Obama as well as the L.O.L. Surprise Series toys.
Meanwhile, the best-selling items on Amazons website on Cyber Monday were the companys all-new Echo Dot, Bose QuietComfort 25 Acoustic Noise Cancelling Headphones for Apple devices, Becoming by Michelle Obama, AncestryDNA: Genetic Testing Ethnicity, Jenga as well as Instant Pot DUO60 – 6 Quart.
“Black Friday and Cyber Monday continue to break records on Amazon year over year, which tells us that customers love shopping for deals to kick off the holiday shopping season,” Jeff Wilke, Amazons Chief Executive of Worldwide Consumer, said in a statement.
“With curated gift guides, convenient shopping experiences, incredible product selection, and free shipping with no minimum purchase amount, Amazon offers customers tremendous value—sure to deliver smiles all season long,” he added.
According to CNN Money, the 45 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,125.00, with a high estimate of $2,450.00 and a low estimate of $1,900.00. The median estimate represents a 34.37% upside compared to the closing price of $1,581.42 on November 27th.
The same media also reported that 41 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 1 – as “Hold”.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $1,501.08
R1 – $1,582.17
R2 – $1,662.27
R3 – $1,743.36
R4 – $1,824.44
S1 – $1,420.98
S2 – $1,339.89
S3 – $1,259.79
S4 – $1,179.68