Amazon, one of the most successful e-commerce businesses in the world, entered its 30th year in 2024 with its relatively humble yet ingenious origins as an online bookseller based out of Jeff Bezos' garage in Washington State, a distant memory.

Today's Amazon is completely unrecognizable. A global giant among Silicon Valley's big-cap internet moguls, dominating the internet services and retail delivery sectors in most markets worldwide.

Not resting on its laurels, Amazon, one of the 'Magnificent 7' tech stocks, has been actively sharpening its remit recently, with a commitment to the development of AI being one of the areas of innovation that the company is now heavily invested in.

Amazon's stock has been doing very well so far this year, and when the US market closed yesterday after its first trading day following a long holiday weekend, trading appeared to continue where it left off on Thursday, March 28, which was the final trading day of the first quarter of this year, with Amazon stock being at its highest value since November 2021 when it spiked to just over $183 per share before climbing down shortly afterwards.

The tech stock doldrums of 2022 ensued, and Amazon, despite its evergreen parcel delivery enterprise being its distinguishing factor from other internet and high technology giants, was not immune. The lull in value during that period was sustained, but as investor appetite for tech stocks came back, Amazon began to grow its share price once again.

This year so far, Amazon stock has been one of the top risers, and according to FXOpen pricing, Amazon closed yesterday at a lofty $180.38, which represents the highest point since it began this particular rally on January 9, at which point it was trading at $127.22. That is a considerable increase within the space of just under two months.

Today, there has been further note taken with regard to Amazon's commercial prowess by analysts, some of whom have revised their valuations in the advent of the earnings calls, which are set to take place this month relating to last quarter's earnings. It is considered that the reports will be around 83 cents per share on sales of $142.62 billion. That is quite an increase, considering that Amazon reported 31 cents a share of $127.4 billion in revenue a year ago.

Overall, Amazon's core businesses fall into three categories: internet services under its AWS division, its television entity Amazon Prime, and its parcel delivery business, all of which are household names across each sector.

As the economic situation improves across Western markets, Amazon is looking healthy and has held its own among its Silicon Valley peers.

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