Amazon at $1000 - Should We Celebrate?

Last Tuesday, Amazon's stock price crossed $1,000 per share, reaching an all-time high for the company. Wall Street analysts had predicted the event after Amazon reported 23 percent growth in sales and $35.7 billion in revenue as part of its first-quarter earnings, showcasing both its established dominance and continued expansion. Regardless of how much or little significance one attributes to the $1,000-level itself, the occasion marked another milestone for a company whose expanding reach and growth across our economy has been astonishing. As the New York Times observed, “Cracking the arbitrary threshold of a four-digit stock price is a reminder of just how heavy Amazon has become.”