Amazon: The All-Time High Is In Sight For 2024

Summary:

  • Amazon’s stock has climbed nearly 75% this year, amid a rebound in earnings compared to a difficult 2022.
  • Firming margins accelerating momentum in areas like advertising support a strong outlook.
  • We are bullish on the stock and see a path for shares to reclaim the all-time high sooner rather than later.

Amazon warehouse facility storefront exterior in Houston, TX.

Brett_Hondow

Amazon.com, Inc. (NASDAQ:AMZN) has rallied more than 75% year-to-date as one of the best-performing mega-cap stocks in the market. Compared to the period of extreme volatility in 2022 pressured by headwinds from high inflation and climbing interest rates, the company


Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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