An Analysis on Amazon (AMZN) from Sep-Nov 2024
Overview and History
Amazon originally started an online book purchasing service, now it is one of the largest companies in the world. “Amazon has spent years building out its vast empire, investing heavily in data centers, e-commerce, infrastructure and logistics” (Trefis, 2024). The investments that Amazon have made have shaped it into what it is today.
Current Performance
On September 3, 2024, AMZN closed at $177.55/share. On Nov 1, 2024, AMZN closed at $197.93/share. The overall return was 11.48%.
News and Current Events
Amazon Web Services (AWS) is as subset of Amazon and is the company’s main source of profit. However, it is currently under risk. Other web service companies, such as Microsoft Azure and Google Cloud, are gaining on AWS. This is especially true in the AI industry.
Outlook, Prediction and My Recommendations
Amazon is one of the world’s largest companies and will not be going away any time soon. With Amazon’s strength in the market and historical data, it is suggested to invest in Amazon (AMZN) in the future. Amazon is a strong company, and analysts find that it will continue to grow in the coming years.
Sources
Financial data is from Yahoo! Finance
Trefis Team. (2024, November 4). A deep dive into Amazon stock risks and opportunities. https://www.trefis.com/stock/amzn/articles/559790/a-deep-dive-into-amazon-stock-risks-and-opportunities/2024-11-04
Featured Image is AI Generated
