From Nasdaq:

Amazon (NASDAQ:AMZN) experienced a fantastic 2023 as their stock rose by 80%, outperforming the S&P 500 and Nasdaq Index. Their performance pushed their valuation above $1.5 trillion, despite remaining below the all-time high. Throughout 2023, Amazon showed accelerating sales growth that was mainly attributed to a return in e-commerce division and a growing service segment, which includes Amazon Web Services, now accounting for over 50% of its business and Amazon also showed progress in its pivot toward more balance between growth and profits, causing their operating cash flow and earnings to soar.

The positive momentum was extended as Amazon’s operating and financial momentum carried through into 2024, which can continue to move the operating profit margin toward the double digits and mean much higher profits and positive shareholder returns in the long term. Amazon was featured as one of the ten best stocks for investors to buy right now and is poised for continued growth and success.

It’s important to note that John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Demitri Kalogeropoulos has positions in Amazon. The Motley Fool has positions in and recommends Amazon.



Read more: Why Amazon Stock Jumped 80% in 2023