#2 - Amazon (NASDAQ:AMZN)
Another of the FAANG stocks that would be impossible to ignore is Amazon (NASDAQ: AMZN). While many consumers are well aware of Amazon’s reputation as an e-commerce giant, the company is also one of the leaders in artificial intelligence. The company uses AI as an offering in its high-margin Amazon Web Services (AWS) division.
Using AI, business customers can perform image and video analysis in addition to using virtual assistants and forecasting. In late 2019, the company introduced Amazon Kendra – an enterprise search service that is powered by machine learning. According to Amazon, the service was “generally available” to all AWS customers.
The company is also using AI to help with its core e-commerce business. Applications include planning routes for the company’s hundreds of warehouse robots.
Unlike Alphabet, Amazon is easily outperforming the market. AMZN stock is up an amazing 53% for the year. And there’s no reason to believe the stock won’t continue to outperform.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
Read More - Current Price
- $224.92
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 42 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $243.00 (8.0% Upside)
