Amazon (NASDAQ:AMZN) finally broke the $2 trillion market cap club after recently soaring to hit a new all-time high this week. With shares near $200 on the back of some powerful growth drivers (AI is just one of them), perhaps AMZN stock’s run to $3 trillion may not take as long as the move from $1 trillion to $2 trillion. Even near highs, I’m as bullish as ever on the e-commerce and public cloud play, especially as it gains some of its disruptive edge back.
Amazon stock has been on a red-hot run, soaring nearly 85% in just two short years. That said, with shares only recently reaching new heights, the firm still lags behind many of its Magnificent Seven peers in performance over the past five years.
Undoubtedly, the painful crash of 2022 left a huge scar on the stock chart. It took a year and a half just to recover from the 55% drawdown. Now that Amazon is slightly above where it was during its 2021 peak, I think the…
