Amazon stock is up 27% this year, investing heavily in AI for future growth

From Nasdaq: 2024-07-05 03:17:00

Amazon (NASDAQ: AMZN) stock is thriving, up 27% this year with a focus on artificial intelligence. Q1 saw a 13% sales jump and tripled operating income. Amazon is investing in AI start-ups and enhancing e-commerce delivery. Advertising revenue soared 24%, making Amazon a strong buy with potential AI advancements and sales growth.

Amazon is heavily investing in AI, committing $230 million to start-ups and supporting cutting-edge AI applications, like evolutionary biology for pharmaceuticals. Speedy deliveries in major cities and steady advertising growth contribute to Amazon’s success. The company’s AI advancements and top-notch service could lead to continued growth and expansion.

Amazon’s future looks bright, with a potential 7-11% sales growth in Q2 and $12 billion in operating income. With a 57% increase in 2024 EPS, Amazon’s stock could see significant growth. Investors see Amazon as a prime opportunity for the future, with a strong track record and promising developments in AI technology.

The Motley Fool Stock Advisor team identified Amazon as a noteworthy investment, despite not making their top 10 list. Their investment strategy has historically outperformed the S&P 500, providing valuable guidance and stock picks. While Amazon may not be the top pick, its potential for growth and stability make it a compelling investment choice.



Read more at Nasdaq: Amazon Stock Is Up 27% This Year. Where Will It Be by the End of 2024?