Amazon share price closing in on record

📆 4/9/2024 8:22 AM
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Amazon Web Services (AWS),Artificial Intelligence (AI),Meta Platforms

To win over investors, the company has been relentlessly cutting costs and restructuring its business, while demand for AI is also starting to boost its bottom line.

Wall Street investors are finally doing what analysts have been recommending all along: buying Amazon.com Inc.In intraday trading, the stock rose as much as 1.2% to $187.29, surpassing the closing high of $186.57 set in July 2021 before paring gains, according to data compiled by Bloomberg.

The stock has long been the most loved equity by brokers, with 67 analysts urging investors to buy and the remaining two with a hold-equivalent rating.

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