In what has proved to be a year of revival for the tech market, Amazon shares (NASDAQ: AMZN) have once again offered a strong performance, having a record of positive gains in recent history.
The positive gains witnessed in 2023 signify a significant recovery from the lows experienced in 2022, and they owe much of their resurgence to the ongoing artificial intelligence (AI) boom that continues to evolve the technological environment.
These positive results are backed by robust financial performance. The e-commerce giant’s third-quarter earnings for 2023 skyrocketed to an impressive $9.9 billion, in contrast to the previous year’s $2.9 billion in the same period.
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This performance, in addition to Amazon’s sound fundamentals and promising growth prospects, has transpired into a strong positive sentiment among investors, underlining its sound stock market performance throughout the year.
At the time of press on November 7, AMZN shares are trading at $139.74, up +$1.14 in the past 24 hours. Year-to-date, the stock gained roughly 65%, driving its market capitalization to $1.4 trillion.
How will AMZN stock fare in 2025?
Given its recent success, investors are wondering how Amazon stock will perform two years from now, and to answer that question, Finbold used AI-driven predictions by CoinCodex.
These AI-driven forecasts anticipate an increase in Amazon’s share price to $148.02 by November 2, 2024, with a bump of 5.92% from the trending levels.
The algorithm tells a tale of a further price increase of AMZN shares in 2025, which will climb to $224.07, representing a 60.35% increase compared to the current levels.
With the overwhelming amount of recent positive news and aspects regarding the stock, it is essential to note that this company currently faces regulatory scrutiny, with allegations accusing Amazon of exploiting its market dominance to inflate prices and overcharge merchants.
The firm rejected the accusations, but it remains a notable concern as the company grapples with the prospect of intensive judicial activity in the years ahead.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
