Amazon's AWS-driven growth seen as strong investment, with stock up 44.6% in a year.

Amazon.com Inc. (AMZN) is positioned as a strong investment for 2024, driven by its leading cloud computing service, AWS, which commands a 31% market share. AWS sales rose 18.7% in Q2, significantly boosting Amazon's overall revenue. The company's stock has surged 44.6% in the past year, outpacing the S&P 500. Despite high valuations, Amazon’s diverse business model and substantial AI investments suggest continued growth potential amidst market volatility.

October 20, 2024
23 Articles