The fact that the single most far-reaching piece of news pertaining to Amazon (NASDAQ: AMZN) has been one about vaporware and fraud with its supposedly artificial intelligence (AI)-driven grocery stores has done little to stifle the e-commerce and technology giant’s performance in the stock market.
In fact, driven both by a strong first-quarter earnings report and AI-related optimism, AMZN shares have seen an impressive 21.89% rise since 2024 started and Amazon stock price today stands at $182.75.
Still, between the technological strides the e-commerce blue-chip has made in recent years, and its checkered reputation given its tendency to violate privacy laws and other regulations, as exemplified by a recent fine imposed by France, and to misrepresent its capabilities such as with the grocery store fiasco, a significant degree of uncertainty on how exactly AMZN will perform in the coming months remains.
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In its search for clarity, Finbold decided to consult the most advanced version of OpenAI’s flagship AI platform – ChatGPT-4o – on where Amazon stock might stand price-wise at the tail end of 2024.
ChatGPT sets Amazon price for end of 2024
Upon analyzing Amazon’s performance since 2024 started – both on the business and the stock market side – ChatGPT-4o offered a fairly bullish prediction for AMZN stock at the end of 2024.
According to the AI, Jeff Bezos’ e-commerce giant is likely to see its shares rocket another 23.12% and land at $225 before the New Year comes.
ChatGPT particularly highlighted Amazon’s continuous investments in innovation and efforts to boost efficiency, along with its history of strong revenue growth, as key reasons for the high price target.
Interestingly, the AI implied in its response that the global economic situation – which it stated will have a major impact on AMZN – will improve in the coming months.
ChatGPT identifies outer bounds of plausible AMZN price targets
When asked if Amazon stock could feasibly perform even better in the coming months, ChatGPT stated that its most optimistic price target for the big tech firm stands at $245 and identified the possibility that AWS could substantially accelerate its growth as the main driver for such a high estimate.
On the other hand, ChatGPT also explained that AMZN might stagnate near $185 should the global economic and political situation worsen, or if the company faces increased competition or additional regulatory scrutiny.
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