Why Amazon, Nvidia, and Salesforce Stocks Popped Today

Shares of Amazon.com (NASDAQ: AMZN), Salesforce.com (NYSE: CRM), and Nvidia (NASDAQ: NVDA) were up 2%, 2%, and 5%, respectively, as investors rotated back into high-quality growth stocks.

Barron's highlighted Amazon's attractive growth prospects -- in e-commerce, cloud computing, digital advertising, logistics, and healthcare -- in a bullish report on Friday. Moreover, with Amazon's share price treading water over the past year, Barron's writers Eric Savitz and Max Cherney noted that Amazon's current market capitalization could arguably be justified by the value of Amazon Web Services alone.

"Growth at Amazon Web Services is accelerating, and revenue from the unit could hit an annualized $100 billion by 2023," Savitz and Cherney said. "Valuing that business at, say, 15 times sales (most cloud application companies fetch higher valuations than that), gives you a market cap of $1.5 trillion, meaning that investors are getting Amazon's e-commerce business and its nascent advertising business almost for free."

Source Fool.com