#Amazon#Whole Foods#MKM Partners

Amazon could reach $2.5 trillion by 2024, new report says

mcpherrin mcpherrin
|Aug 23|magazine4 min read

Following a new report by MKM Partners, it has been reported that US-based e-commerce company, Amazon, could reach $2.5 trillion in stock market value by 2024, according to CNBC.

On Wednesday (22nd August), Rob Sanderson of MKM noted that Amazon Web Services (AWS) could be worth $1 trillion over the next six years, beating the current market cap of the whole company which is valued at $929bn.

Mr Sanderson wrote: “We still think that AMZN is the best long-term growth investment available to investors today.”

Mr Sanderson believes Amazon will achieve a greater chance of maintaining profitability after the company invested substantially on fresh food delivery.

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It was revealed that the firm invested $13.4bn on the purchase of US-based supermarket company, Whole Foods.

The report also saw predictions that AWS will make up 32% of Amazon’s $88bn profit by 2025, while demonstrating a 35% operating margin by 2024.

It is also anticipated that Amazon will hold 14.5% of the US retail market that will see the company pull ahead of Walmart by 2025, according to Mr Sanderson.

The news comes after Apple became the first company to reach a trillion dollars earlier this month.