Amazon Rises 44% in a Year: Can GenAI Strength Drive the Stock?
AMZNAmazon(AMZN) ZACKS·2024-10-01 23:41

Amazon (AMZN) has experienced a 44% rally in its share price in the past year, outperforming the industry’s rise of 39.8% and the S&P 500 index’s return of 33.7%.The company has been riding on solid momentum in its cloud computing arm — Amazon Web Services, which is being driven by strength in Artificial Intelligence (AI). It is continuously making strides in the Generative AI (GenAI) technology, which has now become mainstream in the cloud industry. Amazon has been at the forefront of the AI revolution, in ...