Amazon: Looking Strong Into 2024 (Rating Upgrade)

Summary:

  • Amazon reported strong Q3 earnings with double-digit revenue growth and increased operating margins.
  • Favorable currency exchange rates could contribute to higher sales in Q4, while US consumers are feeling better about inflation.
  • Amazon’s advertising services segment is experiencing significant growth, with the potential to reach $50 billion in revenue in 2024.

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One of the biggest winners so far this year has been Amazon (NASDAQ:AMZN). The retail and technology giant has seen its shares soar by more than 61% over the past twelve months. The company has reported


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