From Nasdaq:

Amazon had a strong bounce-back year in 2023 after a tough 2022, and investors are excited for 2024. The promising economic backdrop and potential interest rate cut by the Federal Reserve are boosting investor enthusiasm for the stock.

Three compelling reasons to buy Amazon stock are: multiple growth drivers, economic moat with powerful network effects, and trading at a reasonable valuation.

Amazon’s dominance in e-commerce, cloud services, and streaming, coupled with digital advertising revenue, makes it an attractive investment. The company’s market moat and distribution scale are unmatched, and its valuation is still reasonable.

Investors have the chance to buy Amazon stock at a valuation below its historical average, making it a good time to act and buy one of the best businesses in the world. The stock is trading at a reasonable price-to-sales multiple of 2.8 and remains below its 10-year historical average, with room for growth.



Read more: 3 Reasons to Buy Amazon Stock Like There’s No Tomorrow