Amazon.com Inc. (NASDAQ:AMZN) Continues Its Dream Run
Amazon.com, Inc. (NASDAQ:AMZN) is among those happening stocks that have been trading around their yearly high. The stock has gained more than 60% year to date and presently it is trading above $400 level against its 50 day and 200 day averages of $379.27 and $321.72, respectively.
The Buzzing Online Retail
While market trackers like ComScore Inc. (NASDAQ:SCOR) and Forrester Research, Inc. (NASDAQ:FORR) predicted 14% to 15% online sales growth during this holiday season, International Business Machines Corp. (NYSE:IBM)’s e-commerce unit IBM Smarter Commerce reported 16.5% sales growth on 2013 Christmas Day vs. 2012 Christmas Day. Moreover IBM’s this unit which tracks more than 800 U.S. online retailers reported 37% year over year online sales growth for the Friday through Sunday before Christmas.
Earlier, where everybody was concerned about holiday season sales given the speculations of cautious consumer spending the latest reporting from different sources reveal 2.4% to 3.9% growth in total U.S. retail spending. However this higher than expected consumer spending including overwhelming late season orders made it difficult for giant retailers like Amazon.com, Inc. (NASDAQ:AMZN) to deliver them before Christmas.
Amazon’s Amazing Performance
Amazon.com, Inc. yesterday revealed its selective holiday season sales numbers. The online retail giant that operates in a dozen of countries reported that is shipped goods to more than 180 countries during the 2013 holiday season. The retailers reported 39% year over year sales growth on Cyber Monday where customers ordered around 37 million items.
Mobile transition is also believed to have played greater role in Amazon.com, Inc. (NASDAQ:AMZN) stunning holiday sales performance as the company reported that more than 50% consumers shopped on their mobile devices. Even an analyst at Robert W. Baird, Colin Sebastian estimated that customers might have purchased goods worth more than $20 billion on Amazon.com using their smartphones and tablets.