Will Amazon Hit $4,000 in 2022?
In 2020, business was booming for e-commerce companies because of the pandemic and related government-imposed lockdown orders. It's with this momentum that Amazon (NASDAQ: AMZN), one of the largest players in the industry, started 2021. However, the tech giant lagged the market last year, and several factors likely contributed to Amazon's underperformance in 2021.
First, investors largely shifted away from the so-called "pandemic stocks," and many of these companies had a terrible year as a result. Second, Amazon's iconic founder, Jeff Bezos, stepped down from his role as the CEO of the company in the third quarter, leaving his deputy Andy Jassy in charge. Will these factors continue to weigh on Amazon's stock performance, or can the company get back to its market-beating ways?
Amazon's shares currently trade at $3,251.08 apiece. Let's see whether the company's stock can rise roughly 23% this year to hit the $4,000 mark.
Source Fool.com
