Amazon Stock Hits All-Time High Amid Strong Earnings Growth

Amazon's stock has reached an all-time high after posting its strongest top-line growth since spring 2021, despite trading at a reasonable 26 times next year's earnings.

The company's net sales rose 20% in its latest quarter, with its AWS cloud-hosting business generating more than half of Amazon's operating profit and rising 37% in the same period.

Amazon's competitive advantages include its high-margin cloud-hosting business and last-mile logistics, which give it a significant edge over competitors.

The stock is considered reasonably priced at a forward earnings multiple in the mid-20s, with a valuation runway to continue aiming higher.