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Will Amazon Stock Keep Soaring in 2024?

TheMotleyFool

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Will Amazon Stock Keep Soaring in 2024?Photo, wide shot, wide-angle lens, Consumer electronics manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/0defe5ca-333a-451e-9549-4f262e278fc7.png

You might have missed it, but Amazon (NASDAQ: AMZN) stock quietly gained 81% in 2023.

While the market's attention was focused on Nvidia and other AI stocks amid the fanfare over ChatGPT and other generative AI applications, Amazon had one of its best years on record. The tech giant added roughly $700 billion in market value and bounced back from the 2022 bear market that saw its stock price get sliced in half.

Let's look at the major factors that sent Amazon stock higher last year before discussing the company's prospects in 2024.

Source Fool.com

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