In the times when most companies and retailers are being hit hard by the economic downturn, online retail giant Amazon shocked markets everywhere when its shares surged 30%, a high rarely seen in today's times. With the new development, analysts and investors are positive that Amazon will be emerge as one of most powerful businesses of post recession economy.

The Seattle based firm's stocks soared up, to close at a whopping $118.49, which has shattered an earlier record of $106.86 set in December 1999. The fortune 500 company reported Thursday that sales for the third quarter has risen 28% to hit $5.45 Billion. This is far beyond what the analysts had expected - an 18% rise to $5.03 Billion.

In future, Amazon is expecting even better results and analysts back this claim, making the retailer one of the strongest business houses around.