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Top-ranked analyst: Amazon quarterly sales booming

Amazon CEO Jeff Bezos is sizing up locations for its second US headquarters. Among the criteria: convenient access to mass transit and an international airport, a highly educated labor pool, a strong university system and a diverse population.
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Amazon CEO Jeff Bezos is sizing up locations for its second US headquarters. Among the criteria: convenient access to mass transit and an international airport, a highly educated labor pool, a strong university system and a diverse population.

One of the best analysts on Wall Street told clients Amazon's June quarter is going better than expected.

"Proprietary model suggests June unit growth tracking ahead of expectations," Piper Jaffray's Gene Munster wrote in a note to clients Sunday.

He added, "We continue to view AMZN as the best-positioned stock in our coverage over the next five years, driven by continued retail unit growth strength, operating margin expansion, future expansion from new categories through its platform and a reasonable valuation."