Amazon (NASDAQ: AMZN) stock might be down 44% from its all-time high right now, but it's still the fifth most valuable company in the world, with a market capitalization of $1.06 trillion. It's trailing its American peers in the technology sector, like Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT) and Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), yet in 2022, Amazon generated more revenue than all of them.

It operates an incredibly diverse business and is dominating some of the most important areas of the technology industry. With that in mind, there's a clear path for Amazon to achieve a $5 trillion valuation in the next 10 years. If it gets there, investors who buy its stock today would earn a whopping 371% return. 

Amazon is a widely recognized pioneer in the e-commerce industry. It began selling books online in 1995 and has never looked back. Its website is now home to millions of different products and generated $220 billion in sales in 2022 alone. But the company's expansion into other areas has supercharged its growth.

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Source Fool.com