Amazon (NASDAQ: AMZN) soared 80% in 2023, so you may think the e-commerce and cloud computing giant's potential for gains this year is limited. But it's important to remember that just because a stock advanced significantly today doesn't mean it will decline tomorrow. Instead, the price movement generally is linked to the company's earnings potential or other concrete factors like dividend growth or even progress along a path to recovery.

In the case of Amazon, there's reason for the stock to continue gaining. In fact, I can think of three undeniable reasons the shares could explode higher in 2024. Let's check them out.

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Source Fool.com