Amazon (NASDAQ:AMZN) stock delivered outstanding returns in 2023, but is the bull party over ? Don’t worry, and don’t buy into the idea that “what goes up must come down.” From e-commerce to grocery delivery, healthcare and more, Amazon continues to expand into one potentially lucrative market segment after another. One might even say that Amazon stock provides instant portfolio diversification.

Regardless of price-to-earnings ratios and other traditional metrics, Amazon offers excellent value along with solid growth prospects. So, get ready for another exciting year as Amazon makes waves in multiple industries and keeps the competition at bay.

Should AMZN Stock Buyers Worry About Streaming-Ad ‘Outrage’?

Amazon stock propelled higher in 2023 despite the skeptics’ complaints. Still, they’ll always find excuses to worry about worry about Amazon.

For example, you may have heard about the apparent “outrage from customers” as Amazon is about to implement a “controversial” change. Specifically, starting Jan. 29, Amazon will show advertisements to its Prime Video service members in the U.S. The same thing will happen for UK Amazon Prime Video users, starting Feb. 5.

It’s hard to imagine that this will cause widespread “outrage.” These will be “limited” advertisements. As Amazon explained, “We aim to have meaningfully fewer ads than linear TV and other streaming TV providers.”

Second, the members can simply pay an additional $2.99 per month in the U.S., or 2.99 British pounds per month in the UK, to keep their service ad-free. So, don’t expect a large-scale exodus from Amazon Prime Video in the U.S. or UK.

Instead, think about the potential for generating revenue. Amazon can charge businesses to advertise, while also collecting additional monthly payments from members who prefer to keep their service ad-free.

Amazon Becomes a Car Dealer in 2024

Customers buy a broad variety of items on Amazon’s e-commerce platform. Yet, it seems like there are always new product categories to add to the platform, and Amazon’s adding a big one this year.

In particular, 2024 is the year when Amazon will start selling cars on its platform. Soon, automotive dealers will sell Hyundai (OTCMKTS:HYMTF) vehicles through Amazon.

This move might upend the automotive market. Don’t be surprised if other automakers start selling their vehicles through Amazon in the coming quarters.

And by the way, the customers will also be able to select a financing method for their Hyundai vehicles through Amazon. It’s a likely a win-win for the participating automakers and Amazon, and for folks who hold their Amazon stock shares throughout the year.

Amazon Stock: A Confident Buy-and-Hold Investment

Given its outstanding performance and the company’s diversification into multiple industries, AMZN stock is an ideal set-it-and-forget-it investment.

Sure, the short sellers will always have their issues and worries. Nonetheless, Amazon should continue to deliver supreme value to the shareholders in 2024.

Consequently, investors are encouraged to make their own decisions but should at least take a look at Amazon stock. Then, if you’re ready to join the winner’s circle, consider buying and holding some Amazon shares for a year or longer.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.