Amazon stock hits record high after almost three years, driven by investor confidence and growth

From Yahoo Finance: 2024-06-01 06:05:00

Amazon stock finally hit a new record high after nearly three years, surpassing its previous peak in April of this year despite being 20% below its 2021 high. The surge in stock price reflects investor confidence in Amazon, particularly in its artificial intelligence (AI) capabilities, which are driving growth in AWS and e-commerce. As Amazon continues to expand its core e-commerce business, dominate the cloud computing market, and venture into streaming and healthcare, Wall Street analysts remain bullish on its stock, with an average price target indicating a 21% increase in the next 12-18 months.



Read more at Yahoo Finance: Amazon Stock Finally Hit a Record High After 3 Years. Can It Keep Going Up?