Amazon (NASDAQ:AMZN) is having its best year yet. The novel coronavirus pandemic led to an unprecedented surge in online shopping, which was a big win for the e-commerce giant. With Prime Day just around the corner, investors are hoping for some big gains in the coming weeks. AMZN stock is up 62% to date, and the biggest shopping event of the year will push its value to new highs.
Analysts concur with this sentiment and believe this stock could go as high as $4,500 this year. The company has already generated $8 billion in ad revenue and this is expected to hit $13 billion for the fiscal year 2020. With a lot of upside potential, an investment in Amazon is a no-brainer.