Overall, the technology-heavy Nasdaq Composite index rose 1.6%, hitting a record high of 6,664 by mid-morning in New York. Concerns about the company’s dominant market position have yet to hit its financial results, and the shares rose about 6%. But the results disappointed investors , Amazon shares fell back and Gates regained his crown. As well as the boost from Whole Foods’ grocery sales, Amazon benefited from its Prime Day promotion in the summer. After the results, Credit Suisse raised its target price for Amazon shares from $1,350 to $1,385.

Source: The Guardian October 27, 2017 17:19 UTC