From Nasdaq, Inc.:



Amazon’s stock has risen more than 80% in the past 12 months and is 20% below its all-time high. As a longtime investor, the author believes the stock could double in the next three years if its e-commerce business stabilizes, its cloud business accelerates, its advertising business expands, and Rivian Automotive’s stock recovers. Despite macro headwinds, Amazon’s international revenue growth actually accelerated throughout the first three quarters of 2023. Amazon’s AWS is growing slower than competitors, but there are signs its year-over-year revenue growth is stabilizing. Amazon’s ad revenue accounted for 8% of its top line in the first nine months of 2023, and it could complement AWS as a secondary profit engine. Amazon’s big investment in the electric vehicle maker Rivian could lead to soaring net profits if Rivian’s stock skyrockets.

Analysts expect Amazon’s annual revenue to reach $790 billion in 2026, and if revalued as a tech stock instead of a retail one, it could be worth nearly double its current market cap at just four times sales. Therefore, Amazon’s stock could double if it grows its core businesses and Rivian’s stock takes off.



Read more: This Behemoth Stock Could Skyrocket 100% in 3 Years — Here’s How