Amazon's AI and healthcare ventures fuel optimism despite tech sector turbulence
) continues to show promise as an investment due to its strategic moves in artificial intelligence and healthcare. The company's robust cash flow has enabled bold investments, which are expected to improve earnings in 2023 and beyond. According to InvestingPro data, Amazon's market cap stands at an impressive $1290.0B USD, underlining the company's financial strength.
Morgan Stanley predicts an AI-driven boost to Amazon's cloud services as it expands further into the healthcare sector. This expansion follows Amazon's acquisition of PillPack in 2018 and the subsequent launch of Amazon Clinic. The choice of Amazon's pharmacy over CVS Caremark by Blue Shield of California underscores the company's success in this new venture.
Chris MacDonald views AMZN stock as offering potential long-term market-beating returns, reflecting a positive outlook on Amazon's future performance. The InvestingPro data further supports this positive outlook, showing a year-to-date price total return of 49.01%.
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