Amazon Soars to New Heights with Successful Holiday Season and Space Exploration Project
It’s no secret that Amazon (NASDAQ:AMZN) is a force to be reckoned with in various market sectors. Despite critics claiming that AMZN stock is overpriced, the company has proven its worth with a highly successful Black Friday and Cyber Monday, earning it a confident “A” grade.
But there’s more to Amazon than just its e-commerce business. The company has diversified its revenue sources, including cloud computing, grocery delivery, healthcare, and even a project that’s currently orbiting in space.
Amazon’s winning streak continues, as it has consistently surpassed Wall Street’s quarterly earnings expectations throughout the year. This impressive performance justifies the stock’s powerful momentum and proves that winners can keep on winning.
The strong American consumer provides an ongoing tailwind for Amazon. During the extended Black Friday and Cyber Monday holiday shopping event, U.S. online sales reached a record-breaking $38 billion. This further demonstrates Amazon’s ability to capitalize on Americans’ preference for online shopping.
In addition to its e-commerce success, Amazon is venturing into space exploration. The company’s Project Kuiper aims to launch internet-from-space satellites. Amazon has recently partnered with Elon Musk’s SpaceX, and starting in mid-2025, SpaceX will launch three Falcon 9 rockets on behalf of Amazon. Early customer pilots are expected to be deployed in the second half of 2024.
It’s remarkable to see Amazon’s influence extend beyond borders and into space as it conquers yet another future-facing market segment.
Considering Amazon’s impressive post-Thanksgiving shopping period and its ambitious space exploration project, it’s clear that the company is a powerful momentum stock to watch. While there are no guarantees, Amazon remains a consistent income generator and a bold innovator. With an “A” grade and potential for further growth in 2024, AMZN stock is definitely worth considering.
Disclaimer: Neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held any positions in the securities mentioned.
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