Amazon stock is up 30.1% YTD due to retail dominance and global expansion

From Nasdaq: 2024-07-05 10:35:00

Amazon’s stock price has surged 30.1% YTD, reaching a market cap of $2.06 trillion. The success is driven by its e-commerce dominance, strong Prime momentum, and global expansion, especially in emerging markets. Key strategies include improving offline retail presence and expanding offerings, such as pharma services and partnerships like Grubhub.

The company’s solid Prime momentum and benefits, including fast delivery services and partnerships with Salesforce and Shopify, are driving growth in the e-commerce market. Amazon’s presence in offline retail with Fresh and Whole Foods stores is helping it compete with major retailers like Walmart and Costco. The company’s prospects look strong with a focus on retail strategies and expanding global presence.

Amazon’s long-term growth potential is evident with an impressive expected earnings growth rate of 29.6%. The company’s 2024 revenue estimate is $638.24 billion, with an earnings per share estimate of $4.58, indicating year-over-year growth. While the stock trades at a premium, its strong capabilities and growth potential justify the valuation. Investors should consider leveraging Amazon’s potential for sustained long-term growth.



Read more at Nasdaq: Amazon (AMZN) Up 30.1% YTD on Retail Strength: Should You Buy?