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Why Amazon Rallied 44.4% in 2024

TheMotleyFool

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Why Amazon Rallied 44.4% in 2024Photo, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

Shares of retail and cloud computing behemoth Amazon (NASDAQ: AMZN) rallied 44.4% in 2024, according to data from S&P Global Market Intelligence.

Like most of the "Magnificent Seven," Amazon had a great 2024 as investors piled into large-cap technology stocks participating in the artificial intelligence (AI) revolution.

But Amazon had also entered the year with some big questions hanging over it, as investors wondered whether it had fallen behind rivals in the AI race. Yet over the course of the year, Amazon put many of those concerns to rest.

Source Fool.com

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