Amazon Stock Price Outlook: 1Q Earnings, Retail Profit, AWS, and AI in 2024

The article discusses Amazon’s stock price outlook in light of its first-quarter earnings report, retail profitability, the performance of its cloud computing service AWS, and its plans for artificial intelligence (AI) in 2024. Key points include: Amazon’s stock surged after reporting better-than-expected earnings and revenue, driven by strong AWS growth and improved profitability in its retail business. AWS remains a key growth driver, with revenue increasing 16% year-over-year. Amazon’s retail business returned to profitability, with an operating income of $1.1 billion. The company plans to invest heavily in AI, with CEO Andy Jassy stating that AI will be a “huge driver” for AWS in 2024. Analysts remain bullish on Amazon’s stock, citing its dominant position in e-commerce, cloud computing, and potential for AI innovation.

Source: https://markets.businessinsider.com/news/stocks/amazon-stock-price-outlook-1q-earnings-retail-profit-aws-ai-2024-5