FinkAvenue
Summary
- Amazon stock has continued outperforming the S&P 500 as AI hype finally catches up.
- Amazon is investing aggressively to maintain its cloud computing leadership.
- Microsoft may be perceived as the current AI leader. However, Amazon has the scale to catch up.
- When it comes to winners like AMZN, let them run and don’t let go.
- I am JR research, a seasoned investor who has led wealth management teams. I have a background in economics, and specialize in growth at a reasonable price. I run the investing group Ultimate Growth Investing.
Amazon (NASDAQ:AMZN) stock has outperformed the S&P 500 (SPX) (SPY) since my January 2024 AMZN update, as I urged investors to remain focused on the long-term prize. Notwithstanding its “expensive” valuation, AMZN has inched closer to re-testing its all-time highs as AI euphoria finally reached the Seattle-based company. Amazon’s undisputed e-commerce leadership and its massive scale in cloud computing have underpinned AMZN’s ability to maintain robust buying sentiments. Even though the retail space has continued to face economic headwinds, Amazon’s fourth-quarter earnings release in February 2024 demonstrated its resilience, as North American sales increased 13%.
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