Updated: July 9, 2019
What started out as an online store selling books through the internet in the late 1990s, there is almost nothing that Amazon does not sell today. The company’s expansion into diversified businesses has truly made Amazon a brand to reckon with.
The brainchild of Jeff Bezos, the world’s richest man, Amazon is one of the most valuable companies in the world and wasn’t a long time ago when the company was worth over a trillion dollars.
Millions of people worldwide use some form of Amazon’s service directly or indirectly. People are interacting directly with Amazon by purchasing products on their website, buying books to read on their Kindle devices or using Alexa as their voice assistant or streaming movies and TV shows on Prime Video.
And if we are not directly interacting with Amazon, we are probably using another application that runs on AWS. Every time someone streams a movie or TV show on Netflix; or plays games on Zynga; or books a ride on Lyft, or uses Slack for work, he or she is indirectly using Amazon’s Web Service as some of the biggest companies on the planet run on Amazon’s servers.
We find ourselves in the midst of a very exciting time with how technology is evolving. With so much content to consume and so many ways to get distracted, companies are looking for ways to capture consumers’ attention.
From the above examples, we get a glimpse of how Amazon is doing a fantastic job at that. No wonder the company’s long-term prospects remain positive even after its latest results revealed a slowdown in growth.
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Amazon has been ahead of the curve on many fronts. Smart speakers with Alexa are rapidly picking up and Fire TV is now used in more than 30 million homes. With everything happening at the company, analysts are excited about Amazon’s logistic business that is soon expected to compete directly with the likes of FedEx and UPS.
Alongside Alexa, which alone is expected to be a $19bn business within the next two years, there is a case to be made for a holding in this tech heavyweight.
With technology becoming such an integral part of our being and companies like Amazon playing a vital role in it, wouldn’t it make sense to invest and own part of the company that we rely on for so much?
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This article is written in partnership with eToro. Our goal is to provide information about companies beyond the Philippine Stock Exchange, and offer you investment opportunities to earn from global stock markets.