1 No-Brainer Stock to Buy Right Now for Less than $150
Nasdaq What a difference a year makes. Amazon (NASDAQ: AMZN) saw its stock drop 50% in 2022 thanks to rapidly rising interest rates and heightened fears about a recession crushing asset prices. This year, however, the top tech company handsomely rewarded investors.
As of this writing, shares of Amazon are trading hands at about $140. This makes the tech giant a no-brainer FAANG stock to buy right now for less than $150. Here's why that's the case.
Multiple growth engines
Amazon's current market cap of $1.44 trillion and trailing 12-month sales total of $538 billion easily make this one of the largest corporations in the world. Naturally, investors would think that there isn't much growth potential left as we look over the next five to 10 years. And this could dissuade some from taking a closer look at the stock, as the prospective returns might be limited.
That way of thinking is understandable, but I don't believe it applies to Amazon right now. This company still has lots of expansionary opportunities. Understanding its revenue drivers will provide more clarity.