3 Reasons Amazon Stock Could Extend Its Rally in 2024
If you're an Amazon (NASDAQ: AMZN) investor, you're likely feeling cheery this holiday season. Share prices of the tech giant have soared 76% through mid-December, easily beating the 23% rally in the S 500 this year.
It might seem outlandish to think Amazon stock will have another strong year after outperforming at that fantastic level in 2023, but don't discount that real possibility. There are at least three good reasons to believe you haven't missed the market-beating gains from Amazon stock just yet.
Many tech companies, including , are shifting away from a focus on selling products and moving toward marketing services. Services have higher profit margins, after all. Compare Microsoft's 42%-plus operating margin to Apple's 30% figure for some illustration of that difference. And services provide more stable income because they tend to be subscription-based.
Source Fool.com
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