Amazon and Nasdaq Positioned to Rebound in AI and Cloud
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The Nasdaq has historically rebounded strongly after major declines, suggesting it could soar in 2024 following its drop in 2022.
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Amazon has made major investments in AI like its multibillion-dollar deal with Anthropic, but growth in its cloud business has slowed.
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Amazon's valuation looks cheap compared to AI-focused peers like Microsoft and Nvidia.
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Anthropic's use of AWS and Amazon's chips could drive more cloud demand.
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Amazon seems underappreciated for its potential in AI, presenting an opportunity for long-term investors.