Amazon Announces Record-Breaking Christmas Sales

Despite being on thin ice, Amazon (AMZN) has outperformed its FAANG counterparts over Christmas week. Several analysts have chalked up its tremendous performance to booming holiday sales record.

The holiday cheer, combined with non-agnostic and agnostic festivities, urges customers to purchase copious amount of item. Amazon seems to be at the receiving end of 2018’s holiday-induced retail influx. According to The Motley Fool, the Seattle-based company processed “more items worldwide than ever before” over the past weeks. Compared to holiday 2017, the giant has purportedly sold more in-house products like Echo, Kindle, Fire, etc. The company also hinted that its Prime business is flourishing, claiming that one billion products were shipped to members in holiday 2018.

Analysts think the sales data has boomed AMZN over Christmas week. It is up by 11.6% from the previous week’s trough to peak. Such gain is significant, particularly considering Facebook’s (FB) +8.1%, Apple’s (AAPL) +6.4%, and Alphabet’s (GOOGL) +6.4% trough to peak performance.

CNBC previously reported a dismal performance by AMZN in fiscal Q4 of 2018. The stock is nearing its worst quarterly percentage loss since the Great Recession in 2008. Although the preliminary holiday sales figures could have been the company’s hero, the relief seems to be merely a flash in the pan.

In Q3, Amazon’s cloud computing arm, Amazon Web Services (AWS), did not swell as predicted by pundits. The lackluster growth witnessed AWS earn revenues that missed the mark.

Amazon’s shoddy performance in Europe may have contributed to the harrowing quarterly performance of AMZN. UK-headquartered digital retail group IMRG previously reported lethargic year-over-year revenue increase for online purchases. The consortium cited the “weaker-than-expected revenue outlooks” from Sports Direct and ASOS. However, it can also be assumed that Brits are controlling their Amazon spending.

Although the holiday cheer has benefited AMZN, the cryptocurrency sector has not performed as well. The aggregate value of all digital currencies dropped by $16 billion on Christmas Day.

As cryptocurrency continues to struggle, some decentralists have exclaimed that crypto assets will outperform US indices in 2019. Ikigai Fund founder Travis Kling drew attention to the fact that Bitcoin launched during the commencement of “the largest monetary experiment [of all time],” the globally-coordinated quantitative easing (QE). For Kling, it is logical that traditional equities stumbled as QE begun to lag, catalyzed by a change in the strategy that international monetary incumbents used.

Per Kling, there “is a significant chance [that] crypto is the best performing asset class in 2019.” The Ikigai founder recently said that digital assets give customers “the ability to opt-out of the largest monetary experiment of human history,” since it is a “non-sovereign digital money” which transcends the traditional markets’ shortcomings.