Amazon's stock could be helped by this secret weapon in 2024, BofA says

Amazon.com Inc. is known for its expansive e-commerce operation and its cloud-computing prowess, but a third pillar of the company’s business could see more shine in 2024. That’s according to BofA Securities analyst Justin Post, who predicted a “solid” year ahead for Amazon’s advertising business. Admittedly, ads are already a nice contributor for Amazon AMZN, -0.07% and amounted to an estimated $32 billion in North America revenue last year, by Post’s math. But he’s upbeat about a new development for 2024 ...