AMZN - Amazon: Buy Sell or Hold?
2024-07-13 04:45:00 ET
Amazon (NASDAQ: AMZN) has posted solid gains this year -- up around 30% -- and over the long term thanks to its leadership in the high-growth markets of e-commerce and cloud computing. The company, known for bringing in billions in revenue and profit, even showed that it has what it takes to recover and grow after traveling through tough times: Higher interest rates and the general economic situation drove the company to a loss in 2022, but Amazon revamped its cost structure to turn things around -- and then roared back to growth last year.
All of this sounds fantastic, but the gains also have driven up Amazon's valuation -- and it's important to remember that today, at a market cap of more than $2 trillion, Amazon is less likely to quickly double or triple in value than a younger, less-expensive growth stock.
Considering this picture, should you buy, sell, or hold Amazon stock? Let's find out.
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Amazon: Buy, Sell or Hold?