Amazon stock is at a six-month high
Amazon (AMZN) stock has been slowly inching up this year, and it’s currently at a six-month high. The stock is trading at $1,887.3, its highest point since October 4, 2018. The stock has returned a solid 27.7% year-to-date.
The e-commerce giant now has a market cap of nearly $929 billion. It’s the third-largest public company in the world behind Apple and Microsoft, which have market caps of $964.4 billion and $949.5 billion, respectively.
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We think Amazon is the stock to watch among its FAANG peers, which are seeing slowing growth. The company’s cloud business continues to grow quickly and accounts for a good chunk of its total operating profits. Amazon’s net profits have surged lately, mostly on the back of its lucrative cloud and digital ad businesses.
Amazon has a number of booming businesses
While business is still booming for Netflix, it’s solely reliant on its video streaming business. Amazon owns a variety of other businesses, which are growing quickly, to supplement its core business.
Amazon is scheduled to report its results for the first quarter of 2019 after the closing bell on April 25. While its revenue growth is expected to slow to 17% YoY, its bottom line is expected to expand.
Amazon Web Services’ revenue as a percentage of Amazon’s total revenue has been growing. In 2018, it accounted for over 10.8% of Amazon’s overall revenue. Given how profitable the business is, it has single-handedly lifted the company’s profits, and we expect its bottom line to keep expanding.