E-commerce and cloud computing giant Amazon.com (NASDAQ: AMZN) has been one of the biggest winners in the COVID-19 health crisis. The stock has gained 28% year to date while the S&P 500 index fell 13% over the same period. Can Amazon's bullish market momentum continue skyward, or is it time to step back and wait for a lower entry point?
Amazon is clearly enjoying a rare turn in the global spotlight right now. Consumers around the world are shopping online to a degree never seen before, and this is a global leader in the e-commerce game. On top of that windfall, Amazon also sells cloud computing services and streaming entertainment platforms to a hungry world, which amounts to another couple of big upsides in this era of work-from-home and shelter-in-place policies.
As a result, Amazon's first-quarter sales rose 26%, and the second quarter is shaping up for a 23% year-over-year gain on the top line. The company is experiencing holiday-season order volumes in what's typically the slowest part of each fiscal year.
Source Fool.com