Investor Bill Miller Believes Amazon Stock Will Double In 3 Years

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Amazon stock will double in 3 years, says hedge funder, Bill Miller whose firm invested $1 billion in bitcoin in 2017.

Miller told CNBC on Monday, saying that it’s not unrealistic to expect Amazon stock to double, noting that the online retailer’s “addressable market is so gigantic.”

According to Miller, Microsoft's market value stands at about $785 billion. In September, Amazon reached a $1 trillion market cap for the first time before losing ground in the late-year sell-off.  Despite that sell-off, Amazon is still up 30 percent over the last 12 months.

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