{"id":205496,"date":"2024-02-10T07:25:17","date_gmt":"2024-02-10T07:25:17","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/10\/amazons-stock-just-racked-up-its-highest-close-in-more-than-two-years\/"},"modified":"2025-06-25T17:21:56","modified_gmt":"2025-06-25T17:21:56","slug":"amazons-stock-just-racked-up-its-highest-close-in-more-than-two-years","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/10\/amazons-stock-just-racked-up-its-highest-close-in-more-than-two-years\/","title":{"rendered":"Amazon\u2019s stock just racked up its highest close in more than two years"},"content":{"rendered":"

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Amazon.com Inc. shares continued their charge higher Friday, securing their highest close in more than two years. <\/p>\n

The e-commerce giant\u2019s stock advanced 2.7% in Friday\u2019s session to finish the day at $174.45. That was the best ending level since Dec. 9, 2021, when Amazon\u2019s stock
\n AMZN,
\n +2.71%<\/bg-quote><\/a>
\n closed at $147.17, according to Dow Jones Market Data. <\/p>\n

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Don\u2019t miss:<\/strong> Is Meta now a value stock?<\/a><\/p>\n

Amazon briefly surpassed<\/a> Alphabet Inc.
\n GOOG,
\n +2.04%<\/bg-quote><\/a><\/p>\n

GOOGL,
\n +2.12%<\/bg-quote><\/a>
\n as the third most valuable U.S. company by market capitalization last week, though it\u2019s since fallen back to the No. 4 spot. Still, the recent momentum for Amazon shares has been enough to help the company hold down a place in the top four even as Nvidia Corp.
\n NVDA,
\n +3.58%<\/bg-quote><\/a>
\n nips at its heels. <\/p>\n

Alphabet finished Friday\u2019s session with a $1.86 trillion market cap, while Amazon\u2019s was $1.81 trillion and Nvidia\u2019s was $1.78 trillion. <\/p>\n

Wall Street had a mixed reaction to earnings from big technology companies this quarter, but Amazon\u2019s results were among those that were well received. <\/p>\n

See also:<\/strong> Amazon says the \u2018magic words.\u2019 They spurred a $130 billion market-cap boost.<\/a><\/p>\n

\u201cOverall the overhangs which kept a lid on AMZN\u2009shares \u2014 e-commerce deceleration in 2021, e-commerce deceleration and margin compression in 2022 and AWS deceleration in 2023 \u2014 will have dissipated throughout 2024,\u201d UBS analyst Stephen Ju wrote in a note to clients following those results. <\/p>\n

The company has been a huge driver of earnings growth for the S&P 500 consumer discretionary sector, as its quarterly earnings per share grew to $1 in the latest quarter from 3 cents a year before. The consumer discretionary sector is now expected to post 33% growth in EPS for the fourth quarter, according to FactSet, but without Amazon, that would swing to a decline of about 1%. <\/p>\n<\/p><\/div>\n<\/div>\n

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[ad_1] Amazon.com Inc. shares continued their charge higher Friday, securing their highest close in more than two years. The e-commerce giant\u2019s stock advanced 2.7% in<\/p>\n","protected":false},"author":1,"featured_media":205497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[164],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205496"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=205496"}],"version-history":[{"count":1,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205496\/revisions"}],"predecessor-version":[{"id":344387,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205496\/revisions\/344387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/205497"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=205496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=205496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=205496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}