Can the Rally in Amazon's Stock Continue with New Powerful AI Chip?

Amazon’s (AMZN)  stock has rallied significantly since breaking above its previous 50-day and 200-day simple moving averages (SMAs) in September, which were in the $170 a share range.Hitting a new 52-week high of $220 a share on Wednesday, investors and technical traders may be amused by today’s announcement of Amazon's new powerful AI Chip. That said, let’s see if there are higher highs in store for Amazon with AMZN up more than +40% year to date.Image Source: Zacks Investment Research Amazon’s AI Expansio ...