Amazon (NASDAQ: AMZN) has come a long way since starting as an online book retailer in 1994. The company's stock has soared over 130,000% since it went public three years later, with its business expanding to now include countless other products, an extensive library of digital services, grocery, space satellites, and cloud computing. Amazon's growth has led it to achieve leading market shares in e-commerce and the cloud industry, suggesting the best time to buy the company's stock might have been a long time ago.

However, e-commerce sales only made up about 15% of all retail sales last year, which could mean the market is nowhere near hitting its ceiling. Meanwhile, a current boom in artificial intelligence (AI) is expected to bolster cloud revenue as businesses increasingly seek AI services. With solid positions in both markets, Amazon has a strong long-term outlook.

Here's why it's not too late to buy Amazon stock.

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Source Fool.com