Is Amazon (AMZN) a Smart Long-term Buy?

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="American Century recently released its Q1 2020 Investor Letter, a copy of which you can download below. American Century Focused Global Growth Fund posted a return of -16.95% for the quarter, outperforming its benchmark, the MSCI ACWI Index which returned -21.37% in the same quarter. You should check out American Century’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash. There weren’t a lot of funds who could deliver these kinds of returns without shorting the market or using aggressive put options.” data-reactid=”12″>American Century recently released its Q1 2020 Investor Letter, a copy of which you can download below. American Century Focused Global Growth Fund posted a return of -16.95% for the quarter, outperforming its benchmark, the MSCI ACWI Index which returned -21.37% in the same quarter. You should check out American Century’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash. There weren’t a lot of funds who could deliver these kinds of returns without shorting the market or using aggressive put options.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In the said letter, American Century highlighted a few stocks and Amazon.com Inc. (NASDAQ:AMZN) is one of them. Amazon provides&nbsp;e-commerce, cloud computing, digital streaming, and artificial intelligence services. Year-to-date, AMZN stock gained 36.5% and on May 20th it had a closing price of $2497.94. Here is what American Century said:” data-reactid=”13″>In the said letter, American Century highlighted a few stocks and Amazon.com Inc. (NASDAQ:AMZN) is one of them. Amazon provides e-commerce, cloud computing, digital streaming, and artificial intelligence services. Year-to-date, AMZN stock gained 36.5% and on May 20th it had a closing price of $2497.94. Here is what American Century said:

“Amazon. The online marketplace benefited from a surge in shoppers after virus-related panic buying led to low supplies at brick-and-mortar stores. High demand for Amazon Web Services by instant messaging platform Slack, remote conferencing service Zoom and similar companies also lifted the stock.

Amazon. We believe margins for e-commerce company Amazon will be boosted by the growing impact of advertising on its bottom line, its cloud computing services and rising sales derived from third-party sellers. Revenue growth remains sustainable, and the company remains a dominant global e-commerce player.”

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In Q4 2019, the number of bullish hedge fund positions on AMZN stock increased by about 12% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with AMZN’s growth potential.” data-reactid=”16″>In Q4 2019, the number of bullish hedge fund positions on AMZN stock increased by about 12% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with AMZN’s growth potential.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Disclosure: None. This article is originally published at Insider Monkey.” data-reactid=”17″>Disclosure: None. This article is originally published at Insider Monkey.