After a challenging 2022 during which macroeconomic headwinds and fears of a potential recession caused steep declines in e-commerce stocks, Wall Street has grown bullish about Amazon (NASDAQ: AMZN) again.

Though still more than 25% below its late 2021 peak, the company's stock has climbed about 57% since Jan. 1, primarily thanks to growing prospects in artificial intelligence (AI).  

Recent advances in AI have caused a boom in the industry, with the sector projected to expand at a compound annual rate of 37% through 2030. Meanwhile, Amazon has made a major push into the market this year, expanding its AI offerings on Amazon Web Services (AWS) and venturing into chip development. As a result, now is an excellent time to consider the tech giant before its stock soars any higher. 

Continue reading

Source Fool.com