Amazon Crosses $2,000 for the First Time, Marches Toward $1 Trillion Valuation

Amazon.com Inc. (AMZN) has had a tremendous run in recent years, and Thursday, August 30, that run culminated in the stock crossing $2,000 for the first time ever. 

Amazon shares at last check rose 4.9% to $2,003, a new intraday high for the online retailing giant. 

Amazon shares have risen 600% over the past five years. 

Amazon shares jumped more than 3% during Wednesday's session after analysts at Morgan Stanley raised the company's price target to $2,500 from $1,850.

The firm is bullish on the company's high margin revenue streams, which Morgan Stanley believes will drive higher profitability. 

Amazon's stock would need to reach $2,050.27 per share to become the second company ever with a $1 trillion valuation after Apple Inc. (AAPL) achieved that feat on Aug. 2. 

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