3 Reasons I'm Buying Amazon Stock Hand Over Fist Right Now
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Despite a challenging start to the year with a 6.5% decline in stock price, Amazon remains a strong investment due to its robust business fundamentals. Key growth drivers include Amazon Web Services (AWS), which recently reported a 24% revenue increase, a burgeoning advertising segment that generated over $21.3 billion, and a significant push towards automation in e-commerce, evidenced by the deployment of its 1 millionth robot.
Key Points
Amazon Web Services (AWS) saw a 24% revenue increase year over year in its latest quarter.
Amazon's advertising revenue grew by 23% year over year, reaching over $21.3 billion.
The company has a $244 billion backlog in AWS contracts, indicating strong demand.
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