Prediction: Amazon Will Join Nvidia, Apple, and Alphabet in the $4 Trillion Club Before 2029

Key Points Amazon stock has underperformed the broader market over the last five years. The company's cloud infrastructure and e-commerce strengths give it multiple ways to win with AI. These 10 stocks could mint the next wave of millionaires › Amazon (NASDAQ: AMZN) is the world leader in cloud infrastructure services that are facilitating the artificial intelligence revolution. It's also the world leader in e-commerce. And it's the largest company in the world by measure of revenue, having generated more than $716 billion in sales last year. Despite its many strengths, Amazon stock has been something of a laggard over the last five years. It's up roughly 47% over the last half-decade. The only " Magnificent Seven " stock with a lower return is Tesla , coming in with a gain of 46% across the stretch. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Meanwhile, the S&P 500 is actually up 69% over the same time period, and the Nasdaq Composite is up 71%. But while Amazon stock has underperformed the broader market in recent years, I think the company has a good chance of joining Nvidia , Apple , and Alphabet on the list of companies with a market cap of at least $4 trillion before 2029. Here's why. Image source: Getty Images. Amazon is positioned to serve up wins Amazon has a market capitalization of roughly $2.75 trillion and currently ranks as the world's fifth-largest company. In order to hit a market cap of $4 trillion based on its current share count, the stock would need to increase roughly 45.5%. Over the next two years, that would mean delivering average annual growth of 20.6%. Despite its forefront position in the artificial intelligence space, Amazon still appears to be underappreciated as an AI stock -- and it's not as if the company hasn't been posting strong results. The tech giant's Amazon Web Services (AWS) cloud infrastructure segment grew sales 37% year over year to reach $42.2 billion in the second quarter, with AI-related demand helping the unit record its strongest growth rate since 2021. For reference, the average analyst estimate had called for annual growth of roughly 31% and sales of $40.54 billion in the quarter. Meanwhile, revenue for the company's e-commerce-heavy North America segment saw revenue increase 16% year over year, and total company revenue was up 20% to $200.6 billion in the quarter. Amazon's sales growth is accelerating again, and there are good reasons to think that the business is still in the relatively early stages of benefiting from AI-related tailwinds. The company's heavy focus on e-commerce means that its overall margins tend to be significantly lower than most of the Magnificent Seven, but its massive online retail sales base is a strength that still has substantial room for optimization. With ongoing advancements for automation and robotics, Amazon should be able to harness efficiency improvements that unlock stronger margins for its e-commerce business. Along with continued growth for its digital ads unit, Amazon's business engines have never looked stronger, and give the company the foundation to hit a $4 trillion market cap by 2029. Of course, this projection assumes that the overall market remains relatively healthy. If macroeconomic conditions worsen and valuations across the broader market come down significantly, it's reasonable to expect that Amazon's valuation will face pressure even if business results continue to look strong. Don’t miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $598,219 !* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $61,037 !* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $421,997 !* Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor , and there may not be another chance like this anytime soon. See the 3 stocks » *Stock Advisor returns as of September 5, 2026. Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Nvidia, and Tesla. The Motley Fool has a disclosure policy .

Amazon stock has underperformed the broader market over the last five years.

The company's cloud infrastructure and e-commerce strengths give it multiple ways to win with AI.

Amazon (NASDAQ: AMZN) is the world leader in cloud infrastructure services that are facilitating the artificial intelligence revolution. It's also the world leader in e-commerce. And it's the largest company in the world by measure of revenue, having generated more than $716 billion in sales last year.

Despite its many strengths, Amazon stock has been something of a laggard over the last five years. It's up roughly 47% over the last half-decade. The only " Magnificent Seven " stock with a lower return is Tesla , coming in with a gain of 46% across the stretch.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »

Meanwhile, the S&P 500 is actually up 69% over the same time period, and the Nasdaq Composite is up 71%. But while Amazon stock has underperformed the broader market in recent years, I think the company has a good chance of joining Nvidia , Apple , and Alphabet on the list of companies with a market cap of at least $4 trillion before 2029. Here's why.

Amazon has a market capitalization of roughly $2.75 trillion and currently ranks as the world's fifth-largest company. In order to hit a market cap of $4 trillion based on its current share count, the stock would need to increase roughly 45.5%. Over the next two years, that would mean delivering average annual growth of 20.6%.