The Seattle-based company says it sold 36.8 million items on "Cyber Monday" (the Monday after Thanksgiving), about 39% more than last year's.
"We think that this is sustainable for a multitude of years," says Chad Morganlander, portfolio manager at Washington Crossing Advisors. "As the consumer moves more online, we think that this is going to bode well for Amazon."
Amazon's revenues for 2013 are expected to be nearly $75 billion. Morganlander agrees with the consensus that it will increase next year to around $90 billion.
However, Andrew Busch, editor and publisher of The Busch Update, believes the stock my retrace a bit back to where it was in October. At that time, it made a price "gap" at the $334 per share level; it traded around $402.79 in Friday.
"When I look at Amazon, I see a lot of potential on the upside," says Busch. "But I also see a problem here technically. It needs to come back and fill that gap before it makes significantly new highs. So, I'm a 'hold' on Amazon at best right now. I'd really like to buy it well below $400 before I get interested in it again."
To see the rest of the analysis on Amazon by Morganlander and Busch, watch the video above.
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