Amazon: Should You Buy at the High?
While most stocks are still languishing with double-digit percentage price declines so far in 2020, not so with Amazon (NASDAQ: AMZN). The e-commerce titan is back to making new all-time highs and is up 22% on the year, compared with a 13% decline for the S&P 500.
In hindsight, betting on Amazon at the onset of the coronavirus-induced market crash and ensuing lockdown on the economy was a no-brainer. Digital shopping has gone from a preference to an essential need for millions of households in the last month. And businesses went from digital updates being a high priority to a matter of survival. Both developments play into the hands of Amazon. While buying earlier in 2020 would have been far better, even at all-time highs investors could do far worse than Amazon stock.
It's difficult to sum up all of the digital commerce tools Amazon provides for customers. The tech-enabled retailer ecosystem now encompasses everything from shopping to last-mile package delivery to smart home devices that serve as a constant reminder to stock up on household supplies. Far from its high-growth days being over, total sales in North America grew 21% in 2019 to $171 billion, and international sales grew 13% to $74.7 billion.
Source Fool.com
