The Ultimate Growth Stock to Buy With $1,000 Right Now

The Nasdaq Composite index is in record territory. While that’s exciting news for some, it may be discouraging for those who have been on the sidelines.

But don’t let the market’s rise keep you from seeking out compelling investment opportunities. There are still some quality companies selling at attractive valuations.

If you’ve got $1,000 you’re ready to invest, then don’t look past Amazon (NASDAQ: AMZN). Here’s why it’s the ultimate growth stock to buy right now.

Sizable growth potential

Amazon generated $575 billion in net sales in 2023. That’s more than the GDP of some countries, like Ireland and Thailand. And it puts Amazon behind only Walmart on the Fortune 500 list.

To be clear, this revenue figure makes Amazon a colossal organization. But investors would be delighted to know that the business still has meaningful opportunities to expand, thanks to multiple growth tailwinds.

Amazon’s business was built on the expectation of the expansion of online shopping. Today, nearly 40% of all e-commerce spending in the U.S. happens on its website. There’s still a massive runway for online activity to take share from brick-and-mortar shopping, which should lift the business in the years ahead.

The popularity of Amazon Prime membership not only feeds into greater e-commerce sales, but it can also lead to Prime Video attracting more TV viewing time. Consequently, Amazon also benefits from the streaming trend.

Then there’s digital advertising, a segment that raked in $14.7 billion in revenue just in the last three months. That total was up 26% year over year. In the U.S., Amazon is behind only Alphabet and Meta Platforms in the industry, something most investors might not realize.

Perhaps the most exciting part of the equation is the cloud division, Amazon Web Services (AWS). While growth here has slowed due to macro headwinds, the industry-leading segment boasts a Q4 operating margin of 30%. And AWS gives Amazon a major avenue to introduce artificial intelligence innovations to its client base.

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Pay the price

It’s not difficult to convince someone that Amazon is a…

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