Prediction: Amazon Stock Will Soar After April 29
Amazon (NASDAQ: AMZN), along with many other tech giants, sank earlier this year during a difficult environment for growth stocks. Investors worried about the war in Iran as well as direct risks for artificial intelligence (AI) stocks -- for example, the idea that the revenue opportunity could disappoint.
But, in recent days, Amazon has recovered its momentum and gone on to advance. In fact, the stock is up 10% for the year and is trading around its highest ever. Meanwhile, even after these gains, Amazon shares remain reasonably priced, trading at 32x forward earnings estimates -- a couple of years ago, they traded at more than 40x estimates.
Now, my prediction is that Amazon's gains are far from over -- and this top tech stock will soar after April 29. Let's find out why.
Source Fool.com
