It was a rocky climb with a lot of fiddling along the way. But Amazon shares (AMZN) – Get the report finally hit an all-time high on Tuesday, July 6th – and quickly skipped the previous high to end Wednesday’s session at around $ 3,700 per share.
The Amazon Maven takes another look at the bull case and discusses whether it might make sense to buy and hold Amazon stock despite the all-time highs.
(Read more from the Amazon Maven: Why Amazon stock rose after Jeff Bezos left)
Basics look rock solid
Based on the company’s fundamentals, it’s hard to make any bearish argument against Amazon stock. This is likely why not a single Wall Street analyst has a sell rating on AMZN, according to Stock Rover: 4 buys and 30 strong buys from 34 pundits.
The Seattle-based tech giant is the king of cloud infrastructure and controls over 40% of the IaaS market. Amazon Web Services accounted for 60% of Amazon’s operating profits in 2020, and the …