Amazon (NASDAQ:AMZN) stock has rallied more than 85% over the past year and is up nearly 19% year-to-date. Analysts see more upside in the stock, backed by multiple tailwinds, including solid financials, streamlining efforts to improve profitability, a dominant position in e-commerce and cloud computing, a rapidly growing advertising business, and prospects in artificial intelligence (AI).
Amazon’s Robust Growth Potential
Amazon struggled for a couple of quarters due to excessive investments in its fulfillment centers and other areas and a slowdown in e-commerce sales following the spike in business during the pandemic. However, the company has shown significant improvement in its performance over the recent quarters, thanks to recovery in the e-commerce space and aggressive cost reduction and streamlining efforts.
The company impressed investors with its upbeat fourth-quarter performance. Sales grew 14% to $170 billion,…
