Laffer Tengler Investments Chief Investment Officer quoted in MarketsInsider

Amazon breaches $3,000 to hit fresh record — and experts say the bull run will continue into the post-pandemic economy | Markets Insider

  • Amazon stock gained as much as 4.8% on Monday and breached $3,000 per share for the first time ever.
  • The e-commerce giant has largely benefited from the sudden shift to stay-at-home activity and surging interest in online shopping.
  • Despite the stock notching record highs throughout recent weeks, “it’s not very expensive” considering Amazon’s rapid sales growth, Nancy Tengler, chief investment officer at Laffer Tengler Investments, told CNBC on Thursday.
  • Amazon shares will likely see a slew of price-target upgrades in the near future and could leap as high as $3,500 over the next 12 months, Craig Johnson, senior technical research analyst at Piper Sandler, said.

Amazon leaped as much as 4.8% on Tuesday, breaking through $3,000 per share to record highs.

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