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And with the holiday retail season upon us, investors may push that record even higher.
Just how good of a year has Amazon had?
How does it compare to the S&P 500 as a benchmark?
Is it a good stock toinvestin?
Whats Amazons outlook moving forward?
Consider this a snapshotupdate of Bezos behemoth retailer and tech giant.
It was trading at $202.21 in mid-November.
That marks a 38.4% rise year over year.
For 2024, Amazons stock has jumped 33.04% as of this writing.
The S&P 500 hasnt exactly slouched over the past year either.
Its up around 29.6% over the past year as of this writing.
Note that the S&P 500 pays dividends, while Amazon stock does not.
So Amazon has outperformed the S&P 500 by around 2 percentage points.
Whats Driving Amazons Growth?
When Amazon announced earnings in late October, it soundly beat analysts expectations.
But the real star of Amazons show was cloud computing.
The companys Amazon Web Services division grew at an annual clip of 19%.
Amazon Outlook
Analysts largely look bullish on Amazons stock movement over the next year.
Of the 42 stock analysts surveyed, none of them issued a Sell recommendation.
It sees enormous daily trading volume, and many individual investors buy shares of it directly.
The same goes for other large cap U.S. stock ETFs.
You may also own Amazon through other ETFs as well.
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