- Current Price: $346
- YTD: -12%
- Percentage below 52-week high: 17%
Weakness in shares for early 2014 has been described as “unusual” for e-commerce giant Amazon (AMZN). I might take that a step further and say “outrageous.”
Amazon’s sales over the holidays broke all company records as the most successful online retailer of the season in one of the most rapidly growing sectors of the economy.
But I’ve always liked Amazon Web Services, its cloud computing business, as the main impetus of future growth. A recent report by Morgan Stanley analysts predicted that AWS could contribute $24 billion for Amazon within 10 years.
Another report by Gartner stated that “Amazon has reached a staggering level of dominance in enterprise-level computing services for big companies. It is a thought leader; it is extraordinarily innovative, exceptionally agile and very responsive to the market.”