In case anyone was wondering how some of the heavyweights in online retail fared this holiday season, Amazon.com
Despite an early glitch that might have made some people wonder if Amazon was gearing up for a fall, the rest of the season apparently went off without a hitch. Amazon said it set a record of 2.8 million items ordered, or 32 items per second, with 99% of orders in time for holiday deadlines.
Amazon's press announcement held a little magic for Apple
Of course, Amazon's record-breaking day likely bodes well for all the other big-name online retailers that are likely benefiting from shoppers' increased aversion to crowded malls, as names such as eBay
In addition, it explains both Google's
Today's news spurred investors to bid Amazon shares up nearly 8% on my last check. Yikes. The stock is trading at 43 times forward earnings. Although today's word certainly is good news, and implies better tidings down the road, shares of Amazon certainly aren't on any holiday discount today; unlike most thrifty after-Christmas shoppers, it seems to me that investors are paying a steep price for one of the best.
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Alyce Lomax does not own shares of any of the companies mentioned, although she has been known to spend too much money on Amazon.