Where Will Amazon Stock Be in 1 Year?
Amazon (NASDAQ: AMZN) investors have had a good year so far. Shares of the tech giant are up over 50% in 2023, compared with a 29% increase in the Nasdaq Composite Index. That rally suggests that Wall Street sees a bright future ahead for this business, which has exposure to several long-term growth niches including cloud services, e-commerce, and digital entertainment.
It's anyone's guess where Amazon's shares will be a year from now. Yet the latest operating trends point to a few factors that seem likely to drive returns over that time. Let's take a closer look.
Amazon has been transitioning its business toward a service model for some time, and this shift has accelerated in recent quarters as e-commerce demand slowed. Net product sales barely increased in the past six months, for example, rising to $116 billion in the first half of 2023 from $113 billion a year earlier.
Source Fool.com
