Amazon Eyes $2 Trillion Market Cap as CEO Talks AI, Cost Cuts

Amazon CEO Andy Jassy thinks there’s "a long way to go" in all of its businesses and that could be good for investors.

Amazon package on a desktop
(Image credit: Future) (AMZN) CEO Andy Jassy issued his 2023 Letter to Shareholders this week, highlighting the company's strong performance in 2023 – a year in which its stock soared 81%. The executive also outlined opportunities the company has in 2024 and beyond.

"Overall, 2023 was a strong year, and I'm grateful to our collective teams who delivered on behalf of customers," Jassy asked. "These results represent a lot of invention, collaboration, discipline, execution, and reimagination across Amazon. Yet, I think every one of us at Amazon believes that we have a long way to go, in every one of our businesses, before we exhaust how we can make customers' lives better and easier, and there is considerable upside in each of the businesses in which we're investing."

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.