Amazon (NASDAQ: AMZN) has been a company to watch this year, with its e-commerce business rebounding from a disastrous 2022 and an increasing position in artificial intelligence (AI). The retail giant's stock has risen some 55% since Jan. 1, as Wall Street has grown increasingly bullish over its long-term prospects.

Founded nearly 30 years ago in 1994, Amazon has come a long way since starting out as an online book retailer out of Seattle. Its online marketplace has made it a household name worldwide, with its stock rising about 700% over the last decade. The company has stumbled over the last year, having to contend with macroeconomic headwinds and declines in consumer spending. However, a return to profitability in its e-commerce business and a burgeoning AI division could take it far over the next five to 10 years. 

So, is it still worth buying Amazon stock, or is it too late? Let's find out.

Continue reading

Source Fool.com