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Why Amazon Stock Rose While the Market Slept Today

TheMotleyFool

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Why Amazon Stock Rose While the Market Slept Today: https://g.foolcdn.com/editorial/images/687679/young-person-at-a-desk-using-a-pc-and-tablet-computer-simultaneously.jpg

Are we witnessing the start of a tech stock rally? It's too soon to tell, but numerous big names in the industry rose from the ground on Wednesday.

One of them was Amazon (NASDAQ: AMZN), which closed the day 1.4% higher against an essentially flat S&P 500 index. In addition to being the target of tech stock bargain hunters, the powerhouse online retailer also benefited from a high-profile bank picking it as a top buy in that beaten-down sector.

The analysis in question came from JPMorgan Chase's near-namesake JPMorgan unit. Prognosticator Doug Anmuth updated his coverage of internet stocks, with notably muted enthusiasm.

Source Fool.com

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