In 2023, it is hard to believe that Amazon (NASDAQ: AMZN) started off as a humble online bookseller. These days, the company appears to be expanding in all directions as it is not only an e-commerce giant but also a major media production house and the market leader for cloud computing infrastructure through its AWS business.
Amazon’s staggering success on the business side is well-reflected on the stock market. Since going public, in fact, AMZN is up a staggering 169,500.11% and is now one of the leading companies of the S&P 500’s so-called magnificent seven and was at the forefront of one of the best global trading sessions in recent memory.
Given that Amazon started 2023 around its lowest valuation since 2020 – and that this year saw significant growth both on the stock and crypto markets – many investors are wondering just how big of an opportunity they’ve missed by not buying AMZN on January 1.
How much would’ve $1,000 invested in AMZN grown?
Despite not being one of the top performers among major stocks – an honor reserved for the likes of Tesla (NASDAQ: TSLA), which rose approximately 140% since January 1, and Nvidia (NASDAQ: NVDA), which is up around 230% in the same period – Amazon, nonetheless logged a very impressive year.
In total, the company is roughly 80% in the green year-to-date. It finds itself at the tail end of 2023 as the 5th largest company by market cap and is generally well-positioned to reclaim its 2021 highs of over $180 per share, with some even wondering if it can reach $200 in the next 12 months.
Combined, this means that investors who took advantage of the inflation-caused turmoil of 2022 and bought $1,000 worth of AMZN at around $86 in early January have made a hefty profit, and their investment is now worth approximately $1,800.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/1000-invested-in-amazon-stock-at-start-of-2023-returned/