Here's Why I Just Opened a Position in Amazon's Stock
If you've been investing for any decent amount of time, you likely have a story of "the one that got away." I have several of them, but these stocks never fall off my radar. Instead, I keep them on a list, and I open a position when the valuation is correct. I may not have the same great returns I would if I had purchased it years ago, but if the business still has room to run, it can still be a great investment.
One stock that I recently initiated a position in is Amazon (NASDAQ: AMZN). I whiffed on buying this stock when the market crashed because of the COVID-19 pandemic, and I watched it run all the way up in 2020 and 2021. However, Amazon's stock is now about where it was in May 2020, despite growing its revenue by 64% since the first quarter of 2020. This decline isn't the only reason I opened an Amazon position. Let's dig into the rest.
While Amazon may be known for its e-commerce business, I'm more interested in Amazon Web Services (AWS). This cloud computing business provides the infrastructure for its clients to run apps and websites or process computations through its data centers. Cloud computing is a massive market, and Precedence Research projects it will grow by 17.4% annually through 2030 to $1.6 trillion.
Source Fool.com
