“Shares of Amazon.com (AMZN) were up nearly 3% in midday trading Monday, hitting an all-time high earlier in the session, after Morgan Stanley (MS) boosted its rating on the e-commerce leader, citing growth in that sector.
Morgan Stanley analyst Scott Devitt on Monday said in a report that he expects global e-commerce sales to top $1 trillion by 2016, up from $512 billion in 2012, according to Bloomberg.
Also in the report, Devitt estimates Amazon will have a 23.5% share of the global e-commerce market in 2016, up from his previous projection of 20.6%…”
If you enjoy the content at iBankCoin, please follow us on Twitter
