Amazon's Stock Has Already Made Multiple Millionaires. Could It Do It Again?
One of the best-performing stocks in this millennium has been Amazon (NASDAQ: AMZN). An investment of $30,000 in Amazon at the start of 2000 would have made you a millionaire now, but if you started with a smaller position and consistently added to it along the way, you may have achieved this feat as well.
With Amazon worth around $1.5 trillion, it's basically impossible to repeat its performance. However, Amazon's stock still looks like an attractive investment now and may accelerate your goal of becoming a millionaire by adding it to your portfolio.
What made Amazon rise to prominence over the past two decades is not what is driving the company now. Although its online stores segment is still the largest part of its business, it hasn't done particularly well lately. Instead, Amazon is focused more on equipping third-party sellers to use its platform. As an illustration of this switch, Amazon's online store revenue grew by only 7% in the third quarter (the best over the past four quarters), while third-party seller services increased by 20%.
Source Fool.com
