Amazon's (NASDAQ: AMZN) stock soared late last week following the release of its third-quarter numbers. Although Amazon Web Services' revenue fell just a bit short of expectations, this cloud computing arm's beefy profits still drove the company to a Q3 earnings beat. Perhaps more importantly, Amazon's cloud computing business's profit margin rates have been expanded to long-term norms. Everything's back to normal for this breadwinning profit center.

Amazon Web Services' profitability recovery, however, is hardly the only reason you might want to own Amazon stock right now. It's still a biggie, to be sure. However, there are three other bullish arguments that aren't getting their due attention. Here's a closer look.

You may have forgotten it, but Amazon's e-commerce operation slipped into the red last year thanks to rampant inflation; freight and fulfillment costs proved particularly problematic.

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Source Fool.com