Amazon stock reaches $2,000 mark for the first time

As Amazon stock reaches an all-time high, industry analyst predicts it will double its value in two to three years


Amazon's stock hit $2,000 value per share just after the market open on August 30, the first time it has reached the milestone.

In response to the company's growth, Baron Capital analyst Ashim Mehra has predicted that Amazon will double its value in three to five years, reaching a value of around $2 trillion.

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"When we look at three to five years, we are long-term shareholders, we think this company has the potential to double again in that type of time frame," Mehra told CNBC.

"Advertising, for those of us who have been paying attention over the last few quarters, has really become a big driver," he added. "If you think about what that could be in three or more, in five years, that could be a $30bn to $50bn revenue business with very high margins."

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The landmark share value has suggested that Amazon is well on its way to becoming a member of the trillion-dollar club – a publicly traded company with a valuation in excess of $1 trillion. Earlier in August and after a long battle, Apple beat Amazon to becoming the first company to reach the milestone. 

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