2022-11-25 13:23:00

3 Reasons Why Amazon Is the Perfect Buffett Stock to Buy Now

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Nasdaq
By The Motley Fool

Every investor makes mistakes, even the great ones like Warren Buffett.

Over his long investing career, the Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) chief has had plenty of bad buys and missed opportunities. Of those, one of the biggest was not buying Amazon (NASDAQ: AMZN) earlier. Buffett has acknowledged this mistake in the past, saying at Berkshire's 2018 shareholder meeting that he made the wrong decision not buying Amazon (or Alphabet).

Buffett has also expressed his admiration for Amazon Founder Jeff Bezos on more than one occasion, saying, I had [a] very very very high opinion of Jeff's ability when I first met him, and I underestimated him.

Image source: The Motley Fool.

Buffett would soon correct that mistake, buying Amazon stock in 2019, and Berkshire now owns 10.7 million shares valued at roughly $1 billion.

Amazon wasn't one of the conglomerate's most recent buys, but with Amazon stock down 50% from its peak a year ago, this is a great time for Buffett or anyone who follows his investing appraoch to buy shares of Amazon. Here's why Amazon is the perfect Buffett stock to buy right now.

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