Amazon.com Trading up 2% in After Hours
January 29th, 2010
Amazon.com is somewhere you can go online to buy everything – and the kitchen sink. While the stock market as a whole has taken a hit during the last few days, Amazon’s stock is taking off. The good news comes after surprise earnings were announced for the 4th quarter of 2009.
From 2008 to 2009, earnings rose 42%. The Christmas season was full of individuals shopping for the best values anywhere. For many, this meant resorting to shopping online.
There are quite a few benefits of shopping at Amazon.com over heading to retailers. For instance, you can shop anytime, anywhere you have Internet access. Furthermore, many orders $25 and more receive free “Super Saver” shipping.
Another product that Amazon has going for them is the Kindle. It will be interesting to see how the Apple iPad will affect Kindle sales, especially since eBooks will be available on Apple’s sleekest new invention.
The great thing for the company is that once someone purchases a Kindle, they come back to the store to purchase books to read on them. It is said for every 10 books sold there are 6 Kindle books sold.
College students also head to the online retailer, who typically carries many popular textbooks for lower prices than available at their university. They can increase their savings by selling the textbooks back to the college or selling them in Amazon’s Marketplace at the end of the year.
After the closing bell, Amazon shares rose 2% to $126.03 for regular trading.
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