Amazon shares pushed higher in the US Tuesday trading session and closed above the $1,500 level they achieved for the first time earlier this year. The gain comes as investor sentiment improves amid earnings season and as geopolitical concerns become less prominent.
Amazon shares ended the US Tuesday session 4.32% higher at $1,508.83, the highest level since March 26th. The stock is also in the green in pre-market trading.
Amazon launches international shopping feature
The increase in the Amazon share price comes as the global tech giant launches a new global shopping facility, offering some 45 million products to users worldwide, that can be shipped anywhere from its US fulfilment centres.
The ability to order these products is available through the Amazon shopping app on iOS and Android systems and includes all costs associated with international deliveries, including shipping prices and import duties.
Amazon will handle all the shipping requirements for the service, which is available in 25 different currencies and five languages.
“We are always innovating on behalf of our customers, and with today’s launch, we are making the shopping experience on mobile devices even better and more convenient for our customers who live outside the US,” said Samir Kumar, VP of Amazon Exports and Expansion.
“Customers have been asking for a way to easily find and shop only for products available to be shipped to them. The International Shopping experience solves this customer need,” Kumar added.
Tech giant recovering from Trump onslaught
The improvement in the global retailer’s share price follows a period where loss of faith in tech stocks amid the Facebook data scandal and some anti-amazon tweets from US President Trump weighed on the Amazon stock.
However, with earnings season getting off to a positive start for prominent tech firm Netflix, its likely hopes are high for Amazon’s Q1 release, which is due next week. Meanwhile, the current median share price forecast for Amazon is $1,700, according to CNN Money.