Amazon Stock Crushed the Market in 2023: Will the Gains Continue in 2024?
Amazon (NASDAQ: AMZN) stock soared approximately 75% in 2023, around triple the total returns of the S&P 500 index. After a rough 2022, the stock made a huge turnaround as the e-commerce and cloud-computing giant finally saw some margin expansion and generated positive free cash flow again. It now sits at a market capitalization of over $1.5 trillion and is the fifth-most valuable company in the world.
With the stock up by so much, you might be under the impression you've missed the boat with Amazon stock. But just because a stock is up a lot doesn't mean you should avoid buying shares. Is Amazon set to beat the market yet again in 2024? Let's take a closer look to find out.
Amazon has its fingers in a lot of pies. For example, it is currently investing heavily in healthcare and satellite internet services. But today, two segments drive this entire operation: e-commerce and cloud computing.
Source Fool.com
