Though nowhere near 2024’s biggest stock market winners, such as Nvidia (NASDAQ: NVDA), the e-commerce and technology giant Amazon (NASDAQ: AMZN) recorded a strong year.
Indeed, along with the expansion of its core business – though, as it turned out, not necessarily with a profit – Jeff Bezos’ titan has become an active participant in and beneficiary of the artificial intelligence (AI) boom.
Amazon investors saw significant profit in 2024
Such a setup ensured that AMZN shares experienced a strong rally through most of the year and erased even the deep pullback that emerged at the beginning of August.
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By press time, Amazon stock is 47.39% in the green since January 2 – the first session of the year – and is changing hands at $220.98.
Simultaneously, this rise means that a $1,000 investment made in AMZN shares at the very start of 2024 – when the recovery from the downturn that bottomed in late 2022 was well underway – would have been highly lucrative.
Specifically, such a trade would have appreciated 47.39% from its January 2 price of $149.93, and, at press time, it would be worth 1,473.89 – almost $474 in profit.
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Looking forward, there is something of a Wall Street consensus that an investment made at the very start of 2025 would prove equally successful by the end of the new year.
As Finbold reported on December 16, expert price ratings and targets for AMZN shares are generally bullish, with the equity, on average, being expected to rise approximately 11% to about $250, though the most optimistic among them see $290 as a plausible goal for the coming 12 months.
So far, most analysts have focused on Amazon’s latest – and impressive – quarterly report, which featured a forecast beat both for revenue and earnings-per-share (EPS) and on the expectations the company’s margins and presence will continue to improve, particularly with regard to the AI side of its business.
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