What's Going On With Amazon.Com Stock Thursday?

Amazon.Com, Inc AMZN stock is trading higher Thursday amid many positive reports.

Amazon Prime members saved over $1 billion across millions of deals during Prime Big Deal Days on October 10 and 11. For the second year, Amazon started the holiday shopping season with a two-day exclusive shopping event for Prime members.

Apparel, beauty, home, and toys were among the best-selling categories.

Customers purchased millions of Alexa-enabled devices, including Fire TV and Echo, which were best-sellers.

Apple Inc AAPL AirPods Pro (2nd Generation) were among the best-selling deals.

"This event outpaced last year's holiday kick-off event, with more Prime members shopping this year," said Doug Herrington, CEO of Worldwide Amazon Stores. "Millions of Prime packages in the U.S. have already been delivered, and we'll continue to offer fast, free delivery across our wide selection throughout the holidays."

On the first day of Prime Big Deal Days, U.S. Prime members purchased over 25 million items with same-day or next-day delivery, with hundreds of thousands of items delivered within four hours of purchase. 

The fastest delivery in the U.S. on the first day of the event was 54 minutes in Ohio. The customer ordered a pasta attachment for a KitchenAid stand mixer and "The All New Ball Book of Canning and Preserving." 

On a separate note, Truist Securities analyst Youssef Squali hailed Amazon's expansion into so-called logistics services by noting that shipping and distribution could unlock over $100 billion in revenue for the company.

By turning its logistics network into a service offering for off-Amazon merchants, he believes the company is turning a significant cost center into a profit center, Bloomberg reports.

Analysts see the strategy mirroring what the firm achieved with its cloud business when it built Amazon Web Services to serve its needs before opening the platform to third-party merchants.

Price Action: AMZN shares traded higher by 1.62% at $133.88 on the last check Thursday.