From Nasdaq: 2024-05-16 14:28:00

Amazon, one of the Magnificent 7 tech stocks, hit new highs recently. The company leads in online retail with Prime and AWS services. Amazon’s global expansion and diversification into AI, health care, and more drive future growth. Financially, Amazon exceeded Q1 earnings expectations, with projected Q2 earnings showing a 62% improvement.

Tech giant Amazon is considering introducing dividends, contrasting the trend among its peers. Facebook and Google parent companies have begun dividend payouts and stock buyback programs. Despite this shareholder pressure, Amazon’s focus remains on expanding AWS and generative AI services. The company’s stock has surged more than 22% this year, reaching all-time highs.

Invest in top industry groups for market outperformance. Amazon, a Zacks Rank #3 (Hold), benefits from strong retail and tech sectors. The Zacks Internet -Commerce industry ranks in the top 36%. Historical research shows the top Zacks Ranked Industries outperform the market by 2 to 1. Amazon’s financial strength and positive earnings outlook make it a promising investment choice.



Read more at Nasdaq: Amazon Climbs Above 2021 Highs: Time to Buy the E-Commerce Giant?