From Nasdaq: 2024-05-10 07:51:00

Investors were initially concerned about Amazon’s sales growth dip and first annual loss in almost a decade. However, those who followed Warren Buffett’s advice to be greedy when others are fearful have seen a 125% increase since the stock bottomed out in 2023. Sales growth and profitability are now on the rise, with opportunities in AI services.

Although Amazon is the second-largest company in the US by sales, trailing Walmart, it is gaining ground and has the potential to become the largest company in the world by sales soon. Scenarios show that if Amazon’s sales surpass guidance and Walmart’s sales remain flat or decline, Amazon could take the lead.

Amazon has several growth drivers, including e-commerce, AWS, advertising, and AI services. CEO Andy Jassy highlighted the immense possibilities in technology that Amazon is poised to capitalize on. While Walmart has a strong brand and growth drivers, Amazon’s accelerating growth may help it overtake Walmart in the near future.

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Former Whole Foods Market CEO John Mackey, a member of The Motley Fool’s board, expresses no position in Amazon or Walmart. The Motley Fool, however, holds positions in and recommends both Amazon and Walmart, urging investors to consider the disclosed information and make informed decisions.



Read more at Nasdaq: Will Amazon Finally Hit This Momentous Milestone in 2024?