Amazon (AMZN) investors, as the stock is up 48% based in the year to date. The e-commerce giant is outperforming the S&P 500 Index ($SPX) and hit record highs after Election Day. Can Amazon keep it up into the new year and beyond?

CEO Andy Jassy noted, "We've seen significant reacceleration of AWS growth for the last four quarters," putting its annualized revenue run rate at $110 billion. With that, AWS controls roughly 33% of the cloud infrastructure services market, more than Azure and Google Cloud combined, according to research firm Canalys.

Amazon stock had a strong 2024 but still has room to run according to analysts who say AMZN is their top 2025 pick.

Amazon (AMZN), the e-commerce and cloud giant, saw an outstanding performance in 2024, reaching an all-time high of $233. Gaining 50%, Amazon

Another reason to be leery of buying Amazon stock in the new year is the economic uncertainty. We've already seen the Federal Reserve indicate tentativeness about the number of interest rate cuts on the way in 2025. If the Fed becomes more nervous about the U.S. economy, it could signal bad news for Amazon.

Apple, Amazon and Tesla did not end the year with new 52-week highs. These most actively traded NYSE stocks hit highs earlier in December and then their prices began fading away again. On the other hand,