Amazon shares rise to record high after US election – ChannelNews

Just a week ago, strong quarterly results saw Amazon shares rise more than seven percent to US$200 ($A304).

Following Donald Trump’s victory in the US election, stocks have risen again and $200 is now in the rear view mirror. At least for now.

Just yesterday, Bloomberg reported that shares had risen over US$200 to US$201.45 (A$306.70), clearing their July peak. But even this is old news.

At the close of trading on Wednesday in the US, one Amazon share was trading at US$207.09 (A$315.30), and in the after-hours it fluctuated between US$206 and US$207.

This represents an increase of 3.8 percent on the day, an increase of 14.5 percent over the past month and an increase of 38 percent over the same period last year.

Shares fell to around US$161 ($A245) in August.

According to third-quarter 2024 results released on October 31, Amazon’s net sales rose 11 percent to US$158.9 billion ($A242 billion) in the third quarter, up from US$143.1 billion ($A218 billion) in the third quarter. third quarter of 2023.

North America segment sales grew 9 percent year-on-year to US$95.5 billion (A$145 billion).

International segment sales grew 12 percent year-on-year to US$35.9 billion (A$55 billion).

Amazon Web Services’ cloud computing segment sales grew 19 percent year-on-year to US$27.5 billion (A$42 billion).

“As we head into the holiday season, we’re excited about what we have in store for customers,” said Andy Jassy, ​​Amazon president and CEO.

“We kicked off the holiday season with our biggest ever Prime Big Deal days and the launch of an all-new Kindle line that far exceeded our expectations; and there’s so much more to come, from tens of millions of deals… to more than 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.”

AWS re:Invent will take place December 2-6 in Las Vegas.