- Amazon.com Inc. (NDAQ:AMZN) is one of the S&P 500’s Magnificent Seven
- Amazon shares were up more than 85 per cent the past year and have doubled over the past five years
- Amazon’s target price is around US$200, implying an 11 per cent upside
- Financial advisor and senior wealth manager Brianne Gardner believes Amazon Web Services, Amazon’s AI cloud computing, is “gearing up for the next generation”
Founded in 1994 by Jeff Bezos in Bellevue, Washington, Amazon.com Inc. (NASDAQ: AMZN) is one of the Magnificent Seven companies alongside, Nvidia, Alphabet, Apple, Meta, Microsoft and Tesla.
These seven stocks’ Total Return Index advanced 107 per cent in 2023 versus the overall S&P 500 Index at 24 per cent. The stocks make up about 30 per cent of the S&P 500’s total weighting, although they make up just 1.6 per…
