Amazon Is Ascending 22% This Year - Is It Poised To Shatter Historical Highs And Form Another Meteoric Rise?
Portfolio Pulse from Zaheer Anwari
Amazon's stock has seen a significant rise, reaching a new high on April 11th and briefly surpassing its all-time peak from July 2021. With a 22% increase in 2024, the stock could potentially target the $200 mark if it breaks past its recent high. Amazon Web Services (AWS) continues to grow, nearly hitting a $100 billion annualized revenue run rate. First-quarter earnings predictions for Amazon are set at 83 cents a share on $142.6 billion in revenue, indicating a projected 11.6% sales growth. The stock's future momentum hinges on surpassing its previous all-time high, with a potential aim for the $200 level.
April 18, 2024 | 4:40 pm
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POSITIVE IMPACT
Amazon's stock reached new highs, indicating strong performance and potential for further growth. With AWS's continued success and positive earnings projections, AMZN could see significant bullish momentum.
Amazon's stock performance is directly tied to its business achievements, including AWS's growth and positive earnings projections. The stock's ability to surpass previous highs and the anticipation around its Q1 earnings report suggest a strong bullish potential, especially if it can maintain momentum and break past the $200 mark.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100