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Amazon.com Inc. (NASDAQ: AMZN) is the everything e-commerce behemoth and one of the world’s largest companies by market capitalisation. It generates sales from its namesake e-commerce platform, its AWS web server business and countless other complementary services, such as Amazon Prime. The company started from humble beginnings in the late ’90s by Founder Jeff Bezos selling books online. In 1997, Amazon served 1.5 million customers. Today, Amazon serves hundreds of millions of customers through its global e-commerce stores, millions via its AWS cloud server business and touches many more with its technology (e.g. Prime Video, Echo, Kindle).
According to CNBC, the ‘Magnificent 7’ as they are now known (replacing previous nicknames such as FAANG and FANGMA) have returned 92% on average through October 5, 2023. With the third quarter earnings season unfolding, investor expectations are high and the results will need to be strong to sustain such a rally.
The local share market posted a negative end to the week, with both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) share prices falling 1.2% on Friday, dragging the benchmarks 2.1% lower for the week.
Pro Medicus Limited (ASX: PME) was a standout, adding 12.4%. The radiology imaging technology firm announced another $140 million ten year contract in the US as the business continues to scale quickly.
The iShares S&P 500 ETF (ASX:IVV) could be the best way to passively invest in the stock market, in my eyes.
Want to find the top 10 best ASX shares in Australia? Luke Laretive and Owen Rask go head-to-head in the search for multibaggers on the ASX, with some shocking stats.
The Amazon.com, Inc. (NASDAQ: AMZN) stock price is up 153,000% since 1997. Magellan analyst Jack McManus shares why Amazon has grown so fast.
Is JB Hi-Fi Limited (ASX: JBH) the ASX’s best business model? Drew thinks so. Or is Pinnacle Investment Management Ltd (ASX: PNI) a much better business?
S&P/ASX 200 (ASX:XJO) managed a 0.2% gain on Friday, overcoming weakness in healthcare. Karoon Energy Ltd (ASX:KAR) share price rose 4.2%.
The S&P/ASX 200 (INDEXASX: XJO) could open modestly positive on Monday, with Sydney SPI 200 futures pointing to a slightly positive open. Here’s what you missed from inside the ASX 200 last week.
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