Whether its due to $3.8 billion in revenues from Amazon Web Services, its annihilation of old-school rivals Best Buy and Barnes & Noble or its desire to one-up Netflix — Amazon has become the darling of the stock market one more time and is defying gravity. The company’s stock hit an all time high in early trading this morning. Morgan Stanley was one of the Wall Street firms that boosted its rating on Amazon to overweight earlier today. The stock is up about $8.42 a share or roughly 3.25 percent to $267.57 at the time of this writing, giving the company a market capitalization of about $121 billion. In comparison, Apple stock continues its southerly direction and is down for the day so far.
Amazon stock is up, up and away yet again — here’s the latest news and a chart that shows the company’s gravity-defying growth.