Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Amazon's stock received a slew of upgrades from Wall Street analysts on Friday after delivering market-beating earnings.
On Thursday, the e-commerce giant reported fourth quarter revenues that beat expectations with the Amazon Web Services (AWS) cloud division helping to propel numbers.
Amazon shares closed at $1,390 on Thursday, but after hours shares popped over 5 percent.
A number of analysts raised their price target for Amazon shares. Here are some of the biggest moves:
Amazon forecast that its operating income for the first quarter of 2018 would be between $300 million to $1 billion, below the $1.5 billion street consensus, likely indicating heavier investments going forward. But this did not worry analysts.
"While profitability is taking a step back, we believe Amazon is once again investing ahead of growth in commerce and voice search," Mizuho said in a note announcing its price target upgrade.
Credit Suisse's target price of $1,750 is the highest of the latest round of upgrades. If realized, it would represent a near 26 percent increase from Thursday's closing price of $1,390.
But Credit Suisse is not the most bullish analyst on the Street. Last month, D.A. Davidson increased its price target for Amazon shares to $1,800 from $1,500.
"We see two potential catalysts for shares over the next 12-month period: stronger-than-expected operating results from the company's cloud computing efforts, which we believe remains the primary driver of its share price and, due to its increasing mix of highly-profitable third-party sales (which surpassed 50 percent for the first time in 2Q17)," analyst Tom Forte wrote in a note to clients last month.
Amazon's cloud business continued to be its fastest-growing and most profitable in the fourth quarter. For the quarter, AWS sales jumped 45 percent year-on-year, while generating $1.3 billion in operating income, a whopping 64 percent share of Amazon's total operating income.
CEO Jeff Bezos also said Amazon would "double down" on its Alexa voice technology.
Analysts are extremely bullish on Amazon's stock in the long term, thanks to a number of factors.
"In a nutshell, Amazon remains one of our favorite secular tech growth stories for FY18... and these robust results and 2018 outlook support the Amazon consumer growth thesis, coupled by cloud strength on the AWS segment which is still in the early innings of playing out among enterprises globally on the secular cloud theme," Daniel Ives, head of technology research at GBH Insights, wrote in a note Thursday.
- CNBC's Tae Kim and Eugene Kim contributed to this report.