Amazon.com stock has looked unstoppable in recent days. Positive comments by CIBC Oppenheimer Henry Blodget helped boost the shares up 12-3/8 to 101-7/8 on Friday. And the stock has climbed almost 15 points higher in just two trading sessions after that.
Amazon.com was up 8-11/16 to 115-3/16 on Tuesday after Morgan Stanley analyst Mary Meeker made bullish comments about the online bookseller, as well as other Internet companies, including eBay (Nasdaq: EBAY), which closed up 3-7/8 to 282-5/8. Meeker’s comments were significant because she noted that the long-term outlook — and the key term here is “long-term” — for these Internet companies is “phenomenal.”