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…