Every Day Is Prime Day For Long-Term Amazon Holders; Stock Hits Another All-Time High
Amazon.com, Inc. (NASDAQ: AMZN)'s stock has surged nearly 70 percent over the past year and was seen trading above its 52-week high of $739.55 ahead of Friday's market open.
Amazon's stock surge has benefited investors and helped propel the company's founder and CEO, Jeff Bezos, to top ranks of the world's wealthiest people, as he owns a staggering 17 percent of the entire company, which is valued just shy of $350 billion.
Bezos' other investments and assets include the space exploration company called Blue Origin and the Washington Post.
According to CNN Money, Bezos' net worth stands at approximately $64 billion and is actually the fourth richest person in the planet.
Will Bezos one day become the world's richest person? To do so, he would need to pass legendary investor Warren Buffett who is worth around $67 billion. Also standing in Bezos' way of becoming the richest person is Bill Gates and Amancio Ortego, the owner of Zara.
Warren Buffett has benefited from a substantial head start in creating wealth. For example, he first bought shares of American Express Company (NYSE: AXP) in 1964 — the same year Bezos was born.
Ironically, Buffett also invested in one of Amazon's largest foes — Wal-Mart Stores, Inc. (NYSE: WMT).
Buffett could also add to his lead over Bezos through his investment in Apple Inc. (NASDAQ: AAPL), in which he bought 9.8 million shares. If analysts are correct in predicting Apple's valuation will hit the coveted $1 trillion mark, Buffett's stake in Apple could nearly double.
Since Bezos' wealth is mostly tied to his stake in Amazon, he would need to see further strong gains in the company's stock to move up in the wealth list. However, analysts at SunTrust aren't confident that the stock will continue surging.
Just this week, SunTrust Robinson Humphrey's Bob Peck placed a $775 price target on the stock while maintaining a Neutral rating.
"Competition is increasing, which could impact revenue growth and margin expansion, capital intensity is high, and comps will get tougher for the remainder of 2016. Consequently, we think it may be tough for the shares to outperform peers," Peck stated in his note.
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