From Nasdaq: 2024-04-09 10:44:00

Amazon’s AMZN share price hit an all-time high of $187.29, surpassing its previous peak in July 2021. The stock soared due to investor confidence in its retail and cloud businesses, generative AI investments, advertising, and streaming services. The question now is whether Amazon can maintain this momentum as its market cap nears $2 trillion.

Amazon Web Services (AWS) is a key driver of Amazon’s growth, dominating the cloud market with a focus on generative AI. Collaborations with NVIDIA and expanding data centers are expected to drive AWS’s competitiveness in the cloud market, with a projected market growth to $191.8 billion by 2032.

Microsoft Azure and Google Cloud are also strengthening their cloud positions with increasing availability zones, regions, and generative AI integration. Amazon’s Prime momentum and e-commerce strength, especially in the online pharmacy and grocery sectors, are driving customer loyalty and expanding its offline retail footprint.

Amazon’s Prime Video is also gaining momentum with original and sports content, driving subscription revenues. The company’s subscription revenues are forecasted to grow further with the strength of Prime offerings. To prepare for retirement, Zacks Investment Research recommends diversifying with 5 dividend-paying stocks across various industries for sustainable income.



Read more at Nasdaq: Amazon (AMZN) Share Price Reaches Record Post-Pandemic High