Since the start of the new millennium, many major events have derailed markets and the economy. Investors can point to the dot-com bubble, the housing meltdown and Great Recession, the coronavirus pandemic, and decades-high inflation. But in the past 20 years, the Nasdaq Composite Index has risen 703%. 

Some businesses fared much better. One of the best performing stocks has been none other than Amazon (NASDAQ: AMZN). A $1,000 investment in this FAANG stock 20 years ago in July 2003 would be worth an astonishing $69,430 today, good for a monster return of 6,840%. You'd struggle to find a better performer during that period. 

But past results don't guarantee future returns. So, is Amazon a good stock to buy right now? Let's look at where this business has been and where it might be going. 

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Source Fool.com