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Up 70% This Year, Have Investors Missed the Boat With Amazon Stock?

TheMotleyFool

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Up 70% This Year, Have Investors Missed the Boat With Amazon Stock?: https://g.foolcdn.com/editorial/images/747434/chart.jpg

This has been the year of comebacks for technology stocks. One prime (pun intended) example is Amazon (NASDAQ: AMZN). The e-commerce and cloud computing behemoth saw its shares fall over 50% from all-time highs in 2022 due to profit struggles and slowing growth post-pandemic. Now, in 2023, the stock soared over 70% to a market capitalization of $1.48 trillion, well outpacing returns for the S&P 500.

If you have remained on the sidelines, you may think you've missed the boat buying shares of Amazon. But that couldn't be further from the truth. Here's why Amazon shares still look cheap today and could provide market-beating returns for investors over the next five years.