Where Will Amazon Stock Be in 5 Years?
If the last few years have anything to teach us, it's to never bet against America's big tech. With shares up 104% over the previous five years, Amazon (NASDAQ: AMZN) has navigated both the COVID-19 pandemic and the 2022 inflation crisis while keeping shareholder value intact (although it was a bumpy ride). Let's explore what the next half-decade could have in store for the diversified technology conglomerate.
While Amazon has successfully diversified itself into businesses ranging from cloud computing to artificial intelligence (AI), its foundation remains e-commerce. In 2022, this sprawling segment had begun to underperform because of COVID-era overexpansion and high inflation, which squeezed consumer purchasing power. But now, those challenges are in the past.
Amazon's first-quarter net sales rose 13% year over year to $143.3 billion. But more importantly, its operating income surged more than threefold from $4.8 billion to $15.3 billion over the same time frame.
Source Fool.com
