From Nasdaq: 2024-06-19 06:40:00

Amazon (NASDAQ: AMZN) has seen tremendous growth in e-commerce and cloud computing, leading to billions in earnings and a share price surge of over 1,000% in the past decade. With a market value of $1.9 trillion, Amazon remains a top long-term investment. The company’s recent focus on AI promises future growth potential.

In 2022, Amazon recorded a 13% increase in sales to over $143 billion, with net income tripling to more than $10 billion. While facing a rare annual loss due to inflation, Amazon’s restructuring efforts led to improved cost structure. Its shift to regional fulfillment models has increased efficiency and lowered costs.

Amazon’s Amazon Web Services (AWS) continues to drive profits, with revenue and operating income consistently growing by double digits. As the world’s leading cloud provider, AWS plans to invest over $5 billion in infrastructure in Saudi Arabia and Mexico. The company’s emphasis on AI could propel future growth in both e-commerce operations and AWS services.

While Amazon alone may not make you a millionaire overnight, its strong position in e-commerce, cloud computing, and AI offers long-term growth potential. Consider integrating Amazon stock into a diversified portfolio for significant returns. The Motley Fool Stock Advisor recommends exploring other top stocks for potential investment opportunities.

Former CEO of Whole Foods, a subsidiary of Amazon, John Mackey, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Amazon. Always consider various perspectives and conduct thorough research before making investment decisions.



Read more at Nasdaq: Could Amazon Stock Help You Become a Millionaire?