Can Amazon Stock Double In Value?

Date: November 22, 2022

After 2 years of strong bullish moves, Amazon stock has finally fallen to its Pre-Covid Levels. With this company’s valuation still around 1 trillion dollars, many experts no longer consider Amazon a growth stock.

But in my viewpoint, this stock can easily double and break its all-time historic high. Plus, from my perspective, below are two business segments within the Amazon portfolio that are most likely to drive this growth.

Advertising: iOS changes rolled out by Apple restrict advertisers from tracking users across the web. This has changed the dynamics of the advertising industry, putting big advertising houses like Meta and Google at a disadvantage. This gives Amazon at a great advantage and is likely to fuel its already growing market share in the advertising business in the coming years.

Cloud: With AWS, Amazon holds the largest market share of the cloud market, and its revenue from this segment has grown exponentially every year for almost the last decade. By many estimates, the market for cloud is expected to quadruple before the end of this decade, thereby giving Amazon stock plenty of opportunity for some additional bump.

In conclusion, I would say that there will soon come a time when Amazon will no longer be a growth stock. But, that does not seem to be the case today!