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Amazon is the retail king, but its web services division is growing even faster

Trade News by Trade News
April 26, 2020
in Personal Finance
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Amazon is the retail king, but its web services division is growing even faster
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The Motley Fool Take

Now is a great time to go looking for bargains if you have some money to invest. Here’s a candidate to consider: Amazon.com. The stock recently hit an all-time high, but it often trades at a premium price — and then goes on to hit new highs.

Amazon is more than a huge retailer with more than 110 million Prime members worldwide. Its real long-term growth driver is its cloud-computing business, Amazon Web Services, which is growing considerably faster than the company’s retail operations — with far fatter profit margins, too.

Amazon was in excellent shape when the coronavirus panic started in February, and it’s doing well in the COVID-19 era, too: Millions of Americans who are facing government-ordered lockdowns are relying on online orders and home-delivery systems to an unprecedented degree. Amazon responded by hiring another 100,000 workers and recently announced that it’s hiring 75,000 more. It’s giving top priority to essential items such as…



Source Google News

Tags: AmazondivisionfastergrowingKingretailServicesweb
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