The COVID-19 pandemic significantly boosted Amazon's e-commerce business, contributing to its remarkable stock performance.

Since its initial public offering in 1997, Amazon's stock has skyrocketed by an astonishing 225,000%, transforming a $1,000 investment into nearly $2.25 million.

From 2014 to 2024, Amazon's stock surged over 1,025%, with revenue soaring from $89 billion to $638 billion and net income rebounding from a loss to an impressive $59.2 billion.

As of the first quarter of 2025, Amazon commands a dominant 37.6% share of the U.S. e-commerce market, far outpacing Walmart, which holds just 6.4%.

Despite a flat stock price in 2025, analysts consider Amazon a strong buy due to its growth opportunities in artificial intelligence, e-commerce, and potential market disruptions.

Key factors influencing Amazon's future performance through 2030 include its e-commerce dominance, the growth of Amazon Web Services (AWS), and expanding advertising revenue.

AWS leads the cloud services market with a 29% share, surpassing Microsoft, which holds 22%, although it faces increasing competition.

In the first quarter of 2025, Amazon's profits surged by 64% year over year, reaching $17.1 billion, driven by advancements in technology, particularly in AI and robotics.

Amazon's advertising revenue reached $56.2 billion in 2024, benefiting from new ad placements and is expected to remain a high-margin business.

The company is actively expanding into new markets, including healthcare through Amazon Pharmacy and plans to launch a satellite internet service via Project Kuiper.

While the bull case for Amazon assumes continued growth in AWS and e-commerce, the bear case raises concerns about potential market share losses and unprofitable segments.

Forecasts for Amazon's stock price in 2030 vary widely, with a bull case of $431 per share, a bear case of $77 per share, and a baseline case of $250 per share, reflecting different growth scenarios.