From Nasdaq:

According to the latest market reports, only five U.S. companies have market caps over $1 trillion right now. These companies include Apple, Microsoft, Alphabet, Amazon, and Nvidia. However, other companies are growing rapidly, and one stock to keep an eye on as a future trillion-dollar stock is MercadoLibre (NASDAQ: MELI).

MercadoLibre has a focus as an e-commerce platform in Latin America, with a strong foothold in fintech. The company has been around since 1999 and went public in 2007, reporting high growth even during the peak of the pandemic. Its core e-commerce business remains robust, and its fintech services are also growing at a rapid pace.

While Amazon is a global company, MercadoLibre’s target market consists of 18 Latin American countries with roughly 600 million people. It continues to report consistent growth across its different business sectors.

MercadoLibre not only has faster growth rates than Amazon but also holds a wider operating margin. As such, it remains a formidable competitor in the e-commerce and fintech sectors.

It is theoretically possible for MercadoLibre to challenge Amazon’s market cap in the distant future. While this is a controversial topic, MercadoLibre may be a better growth stock to buy now, and its potential for growth over the next 10 to 15 years is what matters to investors.

Before investing in MercadoLibre, investors should bear in mind that the Motley Fool Stock Advisor analyst team has identified what they believe are the 10 best stocks for investors to buy now. Although Amazon is not on that list, the stocks recommended could produce significant returns in the years to come.



Read more: 1 Stock That Could Be Worth More Than Amazon by 2039