Amazon’s e-commerce dominance is just the beginning of its growth potential, with $790 billion in gross merchandise volume in 2024. The company’s various businesses, like Amazon Web Services, advertising, and subscription services, are key drivers of revenue growth. With a 32 times earnings valuation, Amazon is attractively priced for investors.

Amazon Web Services leads the cloud infrastructure industry, with a 29% market share in Q3. AWS revenue grew 20% year over year, generating 18% of Amazon’s total revenue. The company’s advertising revenue increased by 24% in Q3, making Amazon the third-largest advertiser globally. Subscription services also saw growth, accounting for 7% of total revenue.

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