Amazon at $5,000 by 2023? Sounds Crazy, but It Isn't
It's a great time to be a long-term investor. Right now, the U.S. economy is in its longest economic expansion in recorded history, and the stock market is riding a nearly 11-year bull-market run. There have been some close calls over this period where the bull nearly gave up its horns, but historically low lending rates have helped push growth stocks to the forefront.
Arguably one of the biggest beneficiaries of this long-tenured rally in equities is e-commerce giant Amazon (NASDAQ: AMZN). Since the stock market bottomed out in March 2009, shares of Amazon are up almost 3,500% through this past Thursday, Feb. 13, with its stock going for $2,150 per share.
The thing is, $2,150 a share for Amazon could still very well be considered a bargain. While that might sound overly optimistic if not borderline crazy on the surface, I believe Amazon could reach $5,000 by 2023. Such a price point would value Amazon at close to $2.5 trillion, making it the most valuable publicly traded company in the world.
Source Fool.com
