Amazon stock is a buy and hold forever due to its strong performance and growth

From “Nasdaq”: 2024-05-14 08:25:00

1. Amazon’s stock has risen over 20% this year, thanks to its trusted reputation and continued success. The company is investing heavily in AI, partnering with Nvidia for powerful chips and investing in Anthropic for innovative models like Claude 3. Amazon’s AWS segment saw 17% year-over-year growth, reaching $25 billion in Q1 2024.

2. Amazon’s e-commerce business remains strong, with North America sales growing 12% year over year. The company dominates the market, owning 37.6% of the domestic share. Despite losing some ground during the pandemic, the market is expected to grow by over 50% by 2029, presenting significant growth opportunities for Amazon.

3. With a solid track record of delivering strong returns, Amazon is well-positioned to take advantage of trends in AI computing and e-commerce. The company’s leadership, innovation, and trustworthiness contribute to its success. While it may not be one of the 10 best stocks to buy now, Amazon continues to be a strong performer with a bright future ahead.



Read more at “Nasdaq”: 2 Reasons Amazon Stock Is a Buy and Hold Forever