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Amazon Prime Day Ahead: How Much Will We Buy Now?

Stock Markets Oct 12, 2020 01:06PM ET
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By Christiana Sciaudone

Investing.com --  Amazon (NASDAQ:AMZN)'s prime day(s) starts Tuesday and runs through Wednesday. 

It'll be a good gauge to see if we're all shopped out in a year when e-commerce soared thanks to stay-at-home mandates to halt the spread of the coronavirus. Then again, the holiday season is almost upon us.

Shares of Amazon are up more than 5%.  

Prime members will have exclusive access to more than 1 million deals on everything they "need and love," the company said in a statement. For the laziest among us, shopping for Prime deals via Alexa started on Sunday.  

Amazon is featuring small businesses prominently this year, which have been among the most hard-hit by the coronavirus and the world's efforts to stem the spread by shutting down daily life. 

Meanwhile, Cowen said e-commerce sales could reach $1 trillion by 2022 in the U.S., two years earlier than previously expected. Thank you, Covid-19. The firm reiterated its buy-equivalent rating on Amazon and its $4,000 price target, again, thanks to the coronavirus-driven demand surge. The stock currently trades around $3,453.

 

Amazon Prime Day Ahead: How Much Will We Buy Now?
 

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