From Nasdaq:

Investors in Amazon (NASDAQ: AMZN) experienced big swings in stock prices due to the pandemic and an economic downturn. However, a remarkable turnaround in 2023 saw a 75% increase in the past year. Recent cost-cutting measures have fortifies its business for the long term, demonstrating resilience and stability in difficult markets.

The expansion of e-commerce, cloud computing, and AI in the tech market has secured Amazon’s position as a major player with significant earnings potential. Its AWS cloud platform earnings $7 billion in profits with a 29% growth year over year. Growth stocks like Amazon are proving to be the most reliable options in multiple high-growth markets.

Amazon’s substantial growth in the last year and its leading position in several high-profit markets suggest the company is a crucial investment. With a promising forward price-to-earnings ratio, Amazon’s stock could see a potential 33% growth over the next two fiscal years.

Fool.com has named Amazon one of the ten best stocks for investors to buy right now. The views and opinions expressed herein are the views and opinions of the author and do not reflect those of Nasdaq, Inc.



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