Amazon.com (AMZN) Stock Rises on Bullish Forecast
NEW YORK (TheStreet) -- Amazon.com (AMZN) - Get Report stock is up 0.33% to $673.56 in afternoon trading on Wednesday after the head of Social Capital, a venture capital firm, said the company's retail business could be worth $1 trillion.
Social Capital CEO Chamath Palihapitiya said the company could sell 30 billion units a year by 2025, up from 6 billion products in 2015, Barron's reports.
The estimates would push Amazon's annual revenue to $432 billion, added Palihapitiya, who valued the company as a startup.
"If you believe in the Internet you have to believe in Amazon," Palihapitiya said during an investment conference in New York, according to Barron's. "If you believe in buying things you have to believe in Amazon."
Additionally, Amazon is nearly running a monopoly on cloud data storage and services with Amazon Web Services, Palihapitiya observed.
(Amazon is held in the Growth Seeker portfolio. See all of the holdings with a free trial.)
Separately, Amazon has a "buy" rating and a letter grade of B- at TheStreet Ratings because of the company's impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance.
You can view the full analysis from the report here: AMZN
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
