Amazon (AMZN) stock price to reach over $300? 2030 predictions

Jeff Bezos’ Amazon is one of the true-blue Silicon Valley Magnificent 7 stocks, a 30-year-old company dating all the way back to 1994.

And just like all the other Magnificent 7 stocks, it’s had an interesting 2024 so far. So, what can we interpret about Amazon’s past and present movements that will show us where the stock will end up by 2030?

Amazon prediction 2030: to reach over $450?

With companies as big as Amazon, opinions differ widely as to where the stock price will end up.

Coin Price Forecast, for instance, believes the Amazon stock price will rise to over $450 by this time in 2030.

CoinCodex, on the other hand, forecasts that Amazon’s stock price will surge close to 350% by then, giving it a share price of $829 by 2030.

But what does Invezz analysis say?

Amazon stock price: Invezz analysis

According to Invezz analyst Ritesh A, Amazon’s stock is currently at an intriguing point.

In 2021, right after founder Jeff Bezos handed over the CEO’s role to Andy Jassy, the stock reached a double top near $190. A double top is a bearish reversal signal that forms when a stock hits a high twice and then reverses. Following this pattern, by the end of 2022, the stock fell to around $80.

However, since the beginning of 2023, the stock has been on a steady uptrend, reaching a new all-time high of $191.70. While this rally has been encouraging for Amazon bulls, there are some concerns in the short-term charts due to the stock’s inability to give a daily closing above $190.

Amazon in the short term

In 2024 so far, Amazon’s stock is up a bullish $34, or 22.7%, so far at the time of this article going to press.

However, less than 1% of that amount has come from the past month, with the stock having largely plateaued since April 2024.

“In the short term, if the stock fails to break above the $190 barrier, it may remain range-bound between $160 and $190,” says Ritesh A.

Amazon in the longer term

Hover, looking further forward, “Amazon’s long-term and super-long-term prospects remain strong”, says Ritesh A.

The company is not only highly profitable, but also keeps reinvesting its cash into new growth drivers, setting it apart from other Magnificent 7 stocks.”

Indeed, Amazon’s strategy of not paying dividends and investing billions into building data centers and developing in-house AI capabilities is likely to pay off in the long run.

Ritesh goes on to say that:

By 2030, I expect Amazon’s stock to be significantly higher than its current levels. Although it’s difficult to predict exact figures, I believe the stock could appreciate by at least 60-70%. This conservative estimate accounts for the potential multiple contractions as Amazon’s growth rate slows, given its current forward P/E ratio of over 40.”

This would give Amazon a stock price of around $294, or even as high as $313.  

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