In the current AI-fueled bull market, Amazon (NASDAQ:AMZN) has been one of the biggest winners, gaining strong momentum and reinforcing my bullish stance on the company’s stocks. Anyone looking at Amazon stock in early 2023, when it traded at $84 per share after a more than 50% drawdown, probably couldn’t have imagined a rebound of over 130% to its recent all-time highs.
Here are 3 reasons to be bullish on Amazon:
Amazon’s Shift To Higher Margins
Although at the peak of its market value, the company’s shift to higher margins under CEO Andy Jassy, combined with scaling AI across Amazon Web Services (AWS) and trading at potentially justifiable valuations, highlight the bullish thesis.
Amazon recently hit all-time highs, reaching a $2 trillion market cap. This surge can largely be attributed to its AI potential. Besides the huge potential in AI with AWS, the company’s margin climb has been impressive….
