In early 2023, three predictions were made for Amazon (NASDAQ: AMZN) stock investors. Reviewing the calls:
- The forecast for Amazon’s e-commerce sales bounced back, with accelerating growth reported in the first three quarters of 2023.
- The prediction regarding Amazon’s expansion into healthcare played out as it acquired One Medical, rolled out RxPass, and launched Amazon One Medical for Prime subscribers.
- Amazon maintained its lead in cloud computing with approximately 30% market control, outpacing Microsoft at 25% and Alphabet’s Google Cloud at 9%.
- Bonus: Amazon stock rebounded by 81% in 2023 after a significant dip in 2022.
The predictions held true and the stock outperformed, setting the stage for new projections for 2024.
Image source: Getty Images.
Amazon’s Cloud Growth Reacceleration
After stabilizing in the third quarter of 2023, Amazon Web Services (AWS) is expected to reaccelerate in 2024, fueled by an improving economy.
Amazon’s Artificial Intelligence Potential
Amazon’s foray into generative AI, spearheaded by its digital assistant and access to advanced AI chips, is positioning the company as a formidable force in the AI landscape.
Amazon to Join the $2 Trillion Club
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