Amazon.com Inc. AMZN shares closed up 1.67% at a new all-time high of $189.05 Thursday. Here’s a look at what to know.

The Details: Amazon shares closed at a new all-time high of $189.05 Thursday after flirting with the mark throughout the week. The company is edging closer to a $2 trillion valuation and ended Thursday’s session with $1.932 trillion in market capitalization. 

Amazon CEO Andy Jassy released his annual shareholder letter Thursday morning which focused heavily on the company's opportunities in artificial intelligence.

During an interview with CNBC, Jassy described plans to improve Amazon’s virtual assistant, Alexa, and spoke about the potential of generative AI to enhance customer experiences across Amazon’s businesses.

Related News: Andy Jassy Says Amazon Has Its Hand In Every Layer Of The Generative AI Stack: ‘This Is Going To Transform Virtually Every Experience’

AMZN Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Amazon.com have an average 1-year price target of $209.70, representing an expected upside of 10.92%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Amazon, while 23 analysts have bullish ratings. The street high price target from DA Davidson is $235, while the street low from Benchmark is $175.

AMZN Price Action: According to Benzinga Pro, Amazon shares are up 0.0026% after-hours at $189.10 at the time of publication Thursday.

Photo: Shutterstock