#3 - Amazon (NASDAQ:AMZN)
It would be a disservice to leave the retail category without mentioning Amazon (NASDAQ:AMZN). The company has been making an effort to diversify from its e-commerce roots. But the coronavirus pandemic is giving the e-commerce giant the opportunity to remind its consumer base why they invented the e-commerce category.
Consider that, in 2019, e-commerce sales made up approximately 11% of all retail sales. And that was without a national directive to shelter in place. It’s no wonder the company has announced plans to hire 100,000 workers to help meet increased demand.
But investors have other reasons to bet on Amazon delivering strong results during this uncertain time. The company is the leader in cloud computing with Amazon Web Services (AWS). This allows consumers to have access to Amazon Prime Video, the company’s streaming service. And they can also chill out to Amazon Prime Music. And it can all be delivered to them through Alexa, the voice assistant that is becoming a staple in an increasing number of homes.
Even Amazon was not immune to the coronavirus crash. The stock dipped over 10%. However, it has since recovered and is posting a slight gain for the year.
Stock #5 is down about 20% for the year, so the time is right to buy
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
Read More - Current Price
- $184.70
- Consensus Rating
- Buy
- Ratings Breakdown
- 44 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $211.62 (14.6% Upside)
