Shares of Amazon (NASDAQ: AMZN) surged 50% over the past 12 months to historic highs north of $950 per share. Analysts have been gradually hiking their price targets on the stock, with the highest estimate now reaching $1,250 per share.
But after witnessing Amazon’s 300% rally over the past five years, investors might be wondering if it’s wise to buy the tech giant at historic highs. I believe that the answer is a definitive “yes” for four simple reasons.
Image source: Amazon.