Famous cryptocurrencies like Bitcoin and Ethereum have been extremely volatile. While the prices of both have increased rapidly over the past year, they’ve each plunged more than 30% from their highs in recent weeks. That crushing volatility is more than many investors could handle.
Those looking for potentially profitable investments without such wild swings have come to the right place.
We have asked successful investors for stock ideas that offer exciting wealth-creating potential without the volatility associated with cryptocurrency.
Here is why they think Amazon is better options.
Sales and profits have been rising for Amazon since the beginning of the pandemic. As consumers relied on online retail and web services, the e-commerce retailer made sure its services were available, and superior, no matter what obstacles lay in front.
The reliability Amazon demonstrated over the past few years to its customers, will surely go a long way in ensuring customer loyalty.
Even as sales rose at the beginning and during the pandemic, Amazon delivered products and services constantly. Moreover, it did so without raising prices to consumers.
Amazon hired 500,000 people globally in 2020, which helped the company meet greater online shopping demand.
Apart from the impeccable client service plan, Amazon’s prime hit the big 200 million members.
Amazon started 2020 with 150 million Prime members. Then came the extraordinary circumstance of the global coronavirus pandemic. Millions turned to Amazon to deliver the things they needed and wanted. That is how, Amazon was able to meet the surging demand with less setbacks.
The result of all these is an additional 50 million customers signing up for its Prime services over the next 12 months.
And last but not least, Amazon Web services continues to thrive. Not long ago, Jeff Bezos announced that the Amazon Web Services segment that earned $45 billion in revenue in 2020 could easily generate $50 billion or more soon at the current growth rate.
Having all these in mind, Amazon undoubtedly looks like a pretty good choice for investors interested in buying profitable stocks.