All signs point to Amazon continuing to grow at a rapid pace in the coming years.
There is little doubt that anyone who invested in Amazon five or 10 years ago made a smart choice. The company’s shares are up more than 30% in 2019 alone and have risen 475% over the last five years. And Wall Street analysts expect the company’s earnings to continue to grow in the coming years.
3 things to expect from Amazon
Amazon continues to deliver strong earnings reports and expand into new markets. The company’s shares may take a hit as the Fed begins slowly cutting interest rates but this should be temporary. Here are three things to watch for from Amazon in the next year.
Prime Day 2019 will be Amazon’s biggest event yet
Prime Day is coming on July 15th and 16th this year and investors are expecting it to be Amazon’s biggest event yet. This event is only intended for Amazon Prime members but even non-members can sign up for a trial membership to participate.
The event has already outpaced Black Friday to become one of the biggest shopping days of the year. The company will offer deals on electronics, appliances, entertainment, home goods, and more. Other companies like Target and Walmart are announcing competing deals to try to capture some of the traffic.
The company continues to expand Amazon Web Services
Amazon Web Services is already a huge player in the $80 billion cloud computing industry. And the company continues to grow at a rapid pace. According to CNBC, AWS is now twice the size of Salesforce and growing at a faster rate.
AWS currently offers 140 services that help businesses run their cloud computing. And the company developed its own chips so it can move into the AI market as well.
Amazon continues to move into new industries
Last year, Amazon bought the online pharmacy PillPack, which puts the company in a position to disrupt the $400 billion pharmacy market. The company is currently building out a network of pharmacy licenses that could eventually allow customers to order medications through Amazon.
Amazon is also looking into small business lending, online grocery delivery, and merchant payments. And the company is unlikely to stop there.
Amazon’s stock is steadily heading toward $2,000 per share but the company still has a lot more room to grow. No one knows exactly what the future will hold for Amazon but it seems like the company is still worth investing in.