Amazon Stock Continues to Soar in 2023 and 2024
Amazon (NASDAQ:AMZN) has proven time and time again that it is a force to be reckoned with in the business world. With its ability to dominate various market niches, it’s no wonder that Amazon stock is expected to provide excellent value in the coming years.
Instead of asking what business Amazon is involved in, it’s more appropriate to ask what business it isn’t involved in. The company has expanded far beyond its core e-commerce platform and continues to grow. As we look ahead to the new year, it’s worth considering Amazon’s growth story and value proposition, and potentially investing in the “best of the best” with AMZN stock.
Interestingly, a recent Bloomberg report suggests that Amazon could actually benefit from retail theft. Unlike traditional brick-and-mortar stores, Amazon doesn’t have to worry about shoplifting since its products are sold online. This advantage has led to a surge in online sales for items that are often locked up in physical stores, such as personal health and beauty products.
According to the report, customers are frustrated with having to deal with locked-up merchandise, with 60% of surveyed participants finding it inconvenient. This frustration has driven shoppers to Amazon, where they can purchase these items without any restrictions.
In another exciting development, Amazon is teaming up with automaker Hyundai Motor (OTCMKTS:HYMTF) to launch online vehicle sales in the U.S. next year. While some skeptics may question whether people will buy cars on Amazon, the convenience factor cannot be ignored. Many shoppers have already turned to online platforms to search for and purchase automobiles.
As always, Amazon is focused on making the buying experience as convenient as possible. Customers will have the option to purchase a new car online and then pick it up or have it delivered by their local dealership at their convenience. This partnership with Hyundai could be just the beginning, with other automakers potentially following suit in the future.
Looking ahead to 2024, it’s clear that Amazon’s stock rally is expected to persist. With its success in multiple market segments and its continuous growth, Amazon remains a top contender. For investors looking to stick with the best, conducting due diligence on Amazon and considering a long position in AMZN stock is a smart move.
Please note that neither Louis Navellier nor the InvestorPlace Research Staff member responsible for this article hold any positions in the securities mentioned.
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