3 Reasons to Buy Amazon Stock Like There's No Tomorrow
Amazon's (NASDAQ: AMZN) stock price is up by about 60% over the last year, more than twice the total returns of the S&P 500 index. The e-commerce leader experienced slowing growth as high inflation and rising interest rates hit consumers' wallets and sent its shares tumbling with the broader market in 2022. But the stock's outperformance coming out of that sell-off could be an omen for what's to come.
Here's what has been driving Amazon's stock higher and why it might have more room to run.
Amazon stock returned 675% over the last 10 years, three times the total returns of the S&P 500. The stock's rise was driven by an annualized increase in total revenue of 24% -- enough to nearly double the company's revenue every three years. Strong top-line growth has been the key driver of Amazon's stock returns, so it's no surprise that the stock tanked in 2022 when that growth slowed due to pressure on consumer discretionary spending.
Source Fool.com
