Drones, Groceries and Sports Apparel
What makes Amazon such a good company — and AMZN such a hard stock to keep down for long — is its diversification and wow factor. Jeff Bezos is never short on ideas for a new revenue stream, and the past few weeks have illustrated that.
In December, the company unveiled its first Amazon Go, a grocery store without cashiers or checkout lines; it made its first-ever (and long-promised) drone delivery, in England; and it hinted at plans to launch its own athleisure line, with the intent to compete with Lululemon Athletica inc. (NASDAQ:LULU).
And that was all before Alexa was reportedly the toast of last week’s Consumer Electronics Show, as both Ford Motor Company (NYSE:F) and Volkswagen AG (ADR) (OTCMKTS:VLKAY) announced plans to include the virtual voice assistant as part of their infotainment systems in new cars.
The Alexa-automakers partnership alone helped move the needle for Amazon stock this week, a sign that AMZN buyers are back. With no shortage of innovative catalysts on the horizon, look for the recent mini-rally in Amazon stock to pick up steam in the coming weeks and months.
Whether you’re a long-term investor or a trader looking to make a quick profit, I’d snatch up AMZN now.
As of this writing, Chris Fraley did not hold a position in any of the aforementioned securities.