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Where Will Amazon Stock Be in 3 Years?

TheMotleyFool 
0 0 05.11.25
Where Will Amazon Stock Be in 3 Years?Photo, wide shot, wide-angle lens, Consumer electronics manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.theapi.app/temp/d8a4268f-c982-4aa8-a09e-f9ee1db62f57.png
 

Thanks to better-than-expected third-quarter sales and earnings results, as well as an aggressive outlook for continued investments in artificial intelligence (AI), Amazon (NASDAQ: AMZN) closed out October with a bang, surging to a new all-time high and boosting its market cap to $2.6 trillion.

The record high is noteworthy because only a week before, the Seattle-based e-commerce and cloud computing giant was lagging its peers in both the Consumer Discretionary Sector SPDR Fund (NYSEMKT: XLY) and the SPDR S Retail ETF (NYSEMKT: XRT) for most of this year. But thanks to its late-month double-digit rally, it pushed back into the lead.

Although Amazon is still trailing the S 500 this year, that gap has been narrowed to roughly 5 percentage points as of the close of trade on Oct. 31.

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Source Fool.com

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