How High Will Amazon Stock Go?

Few companies have created colossal investor wealth like Amazon because the tech giant produced 2450% returns in the past ten years. To put that into perspective, if you invested $10,000 in amazon stock in August 2024, that would have returned $245,000. Although Amazon was well-loved by the boom, its shares plummeted briefly after the tech bubble burst. However, the company orchestrated recovery efforts by levering cloud computing early and increasing its merchandise selection.

The Growth of Amazon’s Stock

While many equity markets were affected by the COVID-19 outbreak in 2024’s first quarter, Amazon saw outsized returns of up to 75%. From 23rd March 2024, AMZN stock increased from about 1900 to 3200 dollars. The tremendous rise in amazon’s stock price can be attributed to the increased online purchases as more and more people shop online for anything they require, including essential products such as food, toiletries, medicine, and groceries.

Many businesses have encountered many challenges during these uncertain times, which has forced them to take drastic measures like reducing their workforce and lowering wages and salaries to survive. However, Amazon has increased pay and hired over 100K delivery workers and warehouses. It is also planning to bring in more people to fulfill the unexpected increase in demand. AMZN stock is among the most coveted tech stocks to purchase now. According to, the Amazon stock price prediction for 2024 from experts from Money Morning was 3000 dollars, and as of 19th November 2024, its strike price is around $3117.02.

The Possibility of a Stock Split

Although analysts have speculated on the possibility of an amazon stock split, it is difficult to tell how realistic it would be. However, Amazon has practical incentives to take that route, including the price tag. If psychological reasons do not convince an investor to purchase amazon shares, its $3000 price tag is reason enough to compel you to jump into the opportunity.

It would be hard to predict how many ways the stocks would split, three, five, ten ways, maybe? Depending on how it goes, the shares will likely go for 1000, 600, or 300 dollars. The hype around the possibility of a split could also affect the price as a buy-up typically precedes a split, increasing the cost followed by a dip, which was seen when Tesla and Apple stock split.

Split are usually psychological, so you should watch out for any signs indicating whether it could be a great time to buy or not. Instead of focusing a lot of your energy on what the executive might decide to do, you should pay attention to what they are doing now.

Amazon has always endeavored to push boundaries by venturing into multiple tech industries. It is currently rolling out new products that might impact the stock price significantly in 2024.

The Condition of Amazon’s Stock as the Holiday Season Approaches

The holiday season is typically a busy season for many retail businesses, with many people rushing to find the items they require for the holidays. However, holiday shopping will be slightly different this year as COVID-19 continues to disrupt our everyday lives. As more people turn to online shopping, online retailers are making more sales, and Amazon is leading the pack.

Although this holiday quarter is gearing to shatter records, AMZN shares stay off its September high by over 10%, making this time possibly ideal for scooping the company’s stocks on the cheap. Amazon’s holiday quarter numbers will include the delayed Prime Day event, Boxing Day, Cyber Monday, and Black Friday, so it is worth watching out for that because the company’s stock might hit a record high. Although things have been immensely challenging this year, Amazon has received positive outcomes, and there is more to come, including the three big shopping days.

Technical Analysis for Amazon Stock

Timing is critical in the stock market; therefore, when you consider buying or selling your stocks, make sure that you do technical and fundamental analysis to identify entry points with lower risk that also provide tangible potential rewards. Amazon has a 99 IBD Composite Rating and a 91 Relative Strength Rating, and a 93 EPS Rating.

The composite rating means that amazon stock has better technical and fundamental stock-picking criteria than 99% of all shares. The relative strength rating monitors market leadership by indicating how a particular stock price movement of a specific stock over the 52 weeks compares to other shares.

Amazon is the fastest-growing mega-cap at the moment and has more room to keep expanding. It is expected to produce market-shattering returns in the next decade, which could see its stock rising.