The Amazon stock price skyrocketed 105% over the last year, but it's not too late to capture even more long-term gains.
Yes, $2,000 per share may seem expensive in the short term.
But in a few years, that price will look like a discount compared to where it will be trading...
We can't prove it, but Money Morning Defense and Tech Specialist Michael Robinson must own a crystal ball. Back on Oct. 30, 2013, he said that the Amazon.com Inc. (NASDAQ: AMZN) stock price would trade for $1,000 per share.
That was one of the boldest AMZN stock price predictions anyone has made, as shares were trading for just $362.62 at the time.
It took a few years for the everyone else to catch on, but investors who listened to Robinson in 2013 were thanking him on May 30, 2017. That's when Amazon first traded for $1,000 per share.
That's a gain of 175%, and it turned roughly every $10,000 investment into $28,000. More than a few people could have used that money to pay off a credit card bill, put a down payment on a house, or take the family on a nice vacation.
35,489 people tuned in to see how this man became undefeated. We're worried he'll take this video down once he realizes how many people gained access to his exclusive content. Watch NOW while you still can...
Of course, that's already happened. Thankfully, Robinson doesn't think Amazon is slowing down anytime soon...
He has another bold Amazon stock price prediction that you can't afford to miss...
You Won't Believe This Bold Amazon Stock Price Prediction
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As his "conservative estimate," Robinson believes the AMZN stock price will eventually trade for $3,000 per share.
As Amazon earns more money, more people want to own shares of Amazon. With more demand for AMZN stock, the price goes up.
And Robinson believes Amazon will keep increasing its revenue because of cloud computing and its hardware.
In Q2, Amazon increased its Amazon Web Services (AWS) sales 48.9% to $6.1 billion. Over the past three years, AWS sales have risen 255%.
The cloud services unit also accounts for 55% of Amazon's operating income.
On top of the impressive sales from AWS, Robinson believes Amazon's speaker device, Echo, is going to be a cash cow for the company.
Amazon doesn't report sales of Echo in its earnings, but it's easy to see why sales will boom...
Just look at the convenience the device is bringing to customers' homes.
Amazon Echo owners in select states can create a shopping list and have their food delivered to their home within two hours, all by just asking the AI-powered assistant Alexa. It's convenience like this that will have more people buying Echos and using Alexa to buy products off Amazon or Amazon-owned entities.
"Amazon is one of those success stories that proves the investment thesis I have laid out for you many times over the last several years: The road to wealth is paved by tech," Robinson said on Sept. 5.
CRITICAL UPDATE: 35,489 People Just Tuned In to an Epic Event
For the first time ever, one man revealed how he's achieved an UNDEFEATED track record - yes, even in this market!
But this guy's remained silent about his secrets for decades.
And as soon as he finds out how many people got access to this exclusive video, he'll likely take it down.
Do yourself a favor and listen to what he has to say before that happens.