Can Amazon Stock Beat the Market Next Year?

The stock market in 2023 can be summed up into three words: the "Magnificent Seven." A moniker for the seven biggest technology-focused companies that are capitalizing on multiple megatrends, the Magnificent Seven companies have been the primary fuel driving the S&P 500 up over 20% this year.

One of these stocks is Amazon (NASDAQ: AMZN), a leader in e-commerce and cloud computing. Shares have rocketed 75% higher this year after the company showed a major profit inflection compared to 2022.

Is Amazon set to beat the market yet again in 2024? Or has this stock run out of juice? 

Continue reading


Source Fool.com