Amazon's sales surge 44%!

Amazon's sales surge 44%!

What happened

Amazon surprised observers with unexpectedly strong sales performance and resulting profits: the company made 44% more sales in Q1'2021 than in the previous year's same quarter. Earnings were almost 50% greater than expected, with the actual number of $15.79 per share against the forecast of $9.54. The revenue was $108.52 billion vs. $104.47 billion expected. Also, it confirmed that this year's Prime Day will take place in June.

What does it mean

Fundamentally, it means that the company's mid-term and long-term outlook is positive for this year. Everything is going according to the plan so the upside is a likely scenario for the stock price.

Technically, the positive report helped the stock to challenge the previosly set all-time high of $3,500 so as the market opens today, bulls will likely continue the push and lift the stock further upwards.

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