Up 71% in 2023, Can Amazon Stock Rally Another 60% From Here?

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Investors’ enthusiasm remains high for mega-cap tech stocks. Meta (META) and Nvidia (NVDA) have both delivered massive gains year-to-date, beating the S&P 500 Index ($SPX) and Nasdaq-100 Index ($IUXX) alike by a wide margin. But while Meta and Nvidia stocks have both gained quite a bit, it’s worth pointing out that shares of the e-commerce giant Amazon (AMZN) have also made investors rich. Amazon stock has gained more than 71% year-to-date, despite macro headwinds taking a toll on consumer and enterprise spending. And looking ahead, at least one Wall Street analyst expects this internet commer…

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