GMBStaff
3 Sep 23
<p>Amazon (NASDAQ:AMZN) saw a 1.8% increase in its stock on Thursday, contributing to a year-to-date gain of over 60%. This rise marks the sixth consecutive positive month for the company, the longest winning streak since 2011. Currently, Amazon's stock is trading above its 100-day and 200-day...
Amazon (NASDAQ:AMZN) is experiencing a strong upward trend, with its stock climbing 1.8% on Thursday. This rise brings its year-to-date gain to over 60%. In addition, August will mark the sixth consecutive positive month for Amazon, marking its longest winning streak since 2011. The stock is currently trading above its 100-day and 200-day moving averages.Amazon made headlines in the e-commerce sector by striking a deal with Shopify, allowing integration on the checkout page for Shopify merchants. This move is expected to provide a boost to both Amazon and Shopify. Looking ahead, Amazon has a couple of potential catalysts in store. The company has a second Prime Day scheduled for the fall and an AWS re:Invent event in November. Morgan Stanley believes that the AWS re:Invent event presents an opportunity for Amazon to generate excitement by unveiling new GenAI capabilities/services and providing clarity on its AI strategy. The firm also expects the event to feature discussions on new partnerships and emerging AI-powered AWS tools.Analyst Gytis Zizys highlights the attractive risk-reward profile of Amazon's stock. He notes that the company's high investments are starting to pay off, making it an appealing option for investors.