Breakout Stocks   Corona Virus Stocks

One of the companies that have become one of the world’s biggest and perhaps essential operations in recent years is e-commerce giant, Inc. (NASDAQ:AMZN). It is a wildly successful company and during the coronavirus pandemic induced lockdowns, Amazon managed to garner significant sales as most shops were closed.

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Major Triggers

However, it seems that the biggest danger to the company at this point is intervention from the United States government and recently, the company’s Chief Executive Officer had to testify before Congress over anti-trust issues. The company has diligently built a business that seems to be way ahead of its competition and due to the current issues; many investors might be thinking whether it is a good idea to invest in the Amazon stock.

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Hence, apart from the issues related to the Congressional hearing, it might be more worthwhile to take a closer look at the company’s financial performance. In the second fiscal quarter, Amazon managed to generate revenues of as much as $88.9 billion, and that represents an astonishing year on year rise of as much as 40%.

On top of that, the company’s profits grew by as much as 100% to $5.2 billion and that is a particularly good performance considering the fact that Amazon spent $4 billion to manage the pandemic. That being said, Amazon has been a high growth company for a long time and it should not be judged on the basis of its performance in one quarter alone.

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In addition to that, it is also necessary to keep in mind that Amazon believes in plowing the profits back into its business. Recently, the company made a similar commitment as it aimed to keep its employees safe and serve its customers to the best of their abilities. On the other hand, Amazon is one of the few companies in the world that makes long term plans and does not think from one quarter to the next. This has enabled the company to become the leader in its industry.

For instance, the launch of two-day delivery and then one-day delivery proved to be massive competitive edges for Amazon as other e-commerce companies struggled to catch up. It is one of the most solid companies in the world at this point and offers steady growth as well as stability to investors. Moreover, the coronavirus pandemic has only made it stronger as it ended up adding millions of new customers. Hence, it could be said that despite the latest Congressional hearing, Amazon remains a stock worth owning.

Two companies that managed to grow substantially during the pandemic were Amazon and Netflix. However, when choosing between the stocks, it should be noted that Amazon already has a video streaming service in the form of Prime Video. Hence, it is in a position to compete with Netflix in its own domain.

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