Amazon shares rise as tech giant opens physical store, 4-star

Amazon shares are higher Thursday, as the global tech giant opens its first 4-star store in New York.

Amazon shares rise as tech giant opens physical store, 4-star

Amazon shares have opened higher Thursday, as the global tech giant has opened the doors to its first 4-star store in New York. The physical store will only stock items from its website that are rated four stars or more and Prime members will enjoy lower prices.

By 1530 BST, Amazon shares were 1.50% higher at $2,004.53. Th stock has been mixed in recent weeks’ activity.

Amazon 4-star

Amazon 4-star will open in the US Thursday, in SoHo and give customers the opportunity to physically browse goods that were, until today, only available from Amazon, online.

Popular items from the consumer electronics, kitchen, home, toys and books sections are available at 4-star. Amazon adds that today’s average rating for the items on sale at it store, is 4.4.

“We created Amazon 4-star to be a place where customers can discover products they will love,” Amazon said in a blog post. “Amazon 4-star’s selection is a direct reflection of our customers—what they’re buying and what they’re loving.”

The etailer behemoth added that digitally shown prices well be on display, highlighting the regular price and Prime price. Customers who wish to become Prime members will be able to do so online and then receive the Prime price, in store.

Amazon could be worth $1.5 trillion in 2 years

Separately, Jeffries analysts said earlier this week that Amazon shares could hit $3,000 in two years, raising the tech giant’s value to the $1.5 trillion level.

Jefferies analyst Brent Thill said in a research note to clients that Amazons core etailer business is accelerating, due to momentum from its growing Prime services.

“In our view, many of its embedded growth opportunities are underappreciated,” Thill said.

Thill added that AWS and Amazon’s advertising business will also contribute to a future of strong growth.

Thill also raised his 12-month Amazon price target from $2,185 to $2,350.

Top Equities Brokers

0 Brokers added for comparison:
Clear all