On Tuesday, Amazon's stock reached a record high of $241.77, reflecting strong investor confidence as the company prepares for its Feb. 6 earnings report. Despite a slight drop of -0.31% on Wednesday, AMZN has seen a remarkable 7.13% increase in the past month and a 47% surge over the past year. Analysts from Raymond James and BMO Capital Markets have also raised their price targets significantly. The key to Amazon's future lies in its growth in e-commerce, AWS, and advertising as competition intensifies.
Over the past month, as some tech stocks have struggled, shares of AMZN have gained 7.13% and are now up more than 47% over the past year.
Future stock performance hinges on Amazon's growth in e-commerce, AWS, and advertising amidst increasing competition.
Amazon's revenue grew 540% in the last decade, with net income rising to $30.42 billion in 2023 and projections over the next five years at 4.5x.
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