Demand for shares of tech company Amazon has been steadily increasing. Many investors are looking to buy AMZN, as recent market research confirms their continued upward trend.
As of August 30, 2023, AMZN's current stock price is $134.9. Statistics indicate that the price of the asset has been on an uptrend over the past year.
Since entering the stock market, AMZN stock has been steadily rising, setting new all-time highs almost every year, but it has collapsed by more than 25% in 2022. Whether Amazon stock will continue to show steady growth in the future is a question that many market participants are interested in.
According to a long-term forecast from analysts at Traders Union, Amazon's stock price will be $164.2 by the end of 2023 and $174.82 by mid-2024. Over the next ten years, Amazon's price could reach $527.11.
More details about AMZN stock forecasts and their rationale can be found in the article published by Traders Union experts.
Amazon (AMZN) is one of the largest e-commerce technology companies, controlling more than 40% of the U.S. market in this segment. The company was founded by Jeff Bezos in 1994. At first, the platform was a simple online store. Today, the company develops several areas: e-commerce in the United States and Europe, cloud computing, and the provision of services within the IaaS and PaaS (Amazon Web Services) models.
It is worth noting that Amazon shares are part of the NASDAQ index, so in the short term, the price chart repeats the movement of the index, which is sensitive to such indicators as the GDP of the world economy and industrial production.
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