Amazon (Nasdaq: AMZN) hit the US stock market in 1997 at an affordable price of $18 (post-split $0.090). Investors who got in early on the e-commerce giant made massive profits of more than a million if they held on for the long term. The US stock market generated tenfold returns in the last two decades despite the 2008 financial crisis.
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Traders who took long positions in Amazon stock made phenomenal returns as the markets rallied from 1997 to 2008. The rally again picked up steam from 2014 to 2020, making leading equities hit new all-time highs.
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A mere $1,000 investment in Amazon stock during its inception has provided returns of more than $2 million today. A 27-year wait has made $1,000 swell to $2.09 million today in October 2024.
The chart shows that AMZN stock has surged 209,888% from its inception in 1997 to October 2024. A $1,000 entry position could have turned into $2,099,880 today in October 2024. That’s phenomenal and life-changing returns in less than three decades.
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Amazon Stock: What Next For AMZN?
Source: The Economic Times
Stock Analysis has predicted that Amazon could hit a maximum high of $265 in the next 12 months. The average trading price for AMZN could hover around the $221 mark. On the flip side, if the markets turn bearish, its price could slide to a low of $145.
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Making millions in the stock market is easier when investors hold on to the long term. It is among the only financial vehicles that could provide promising returns to investors other than the real-estate sector.
However, the real estate sector is now unaffordable to newcomers, so profiting from its growth remains difficult for first-time home buyers. Find out how the American dream has turned sour, and people only look at survival.