(Bloomberg) -- Amazon.com Inc. shares surpassed $1,500 for the first time in intraday trading Wednesday, climbing as much as 2.4 percent to a high of $1,503.49. The stock has recovered fully from the equity market selloff and is up 27 percent so far this year. Amazon's recent strength may be related to record-low operating margins from Walmart Inc., which some analysts have partly blamed on competition with the e-commerce giant.
To contact the reporters on this story: Morwenna Coniam in New York at mconiam@bloomberg.net, Stephen Sweeney in New York at ssweeney39@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Catherine Larkin
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