Amazon
A business of multiple great businesses, when most are lucky to have one
Image credit - © Getty Images News
What does it do?
A ubiquitous name that needs little introduction, Amazon is an online retailer, ecommerce platform, logistics business, cloud computing host, entertainment platform, film studio, tech hardware provider and much more.
Why do we invest?
Amazon has spent 20 years methodically building what could best be described as ‘infrastructure’ for large swathes of the economy. Competitively, Amazon’s exceptionally wide moat stems from its scale, which represents a nearly insurmountable barrier to entry for competitors. Its culture and mission remain resolutely customer-centric and has famously tolerated near-term discomfort in the search for long-term value creation.
What is underappreciated is how long Amazon’s growth could endure, with multiple growth opportunities in AI, advertising, original content, and grocery delivery still in their early days.
Who is key?
The legacy of Jeff Bezos is now enshrined in the culture of the business. Successor Andy Jassy will continue to manage Amazon with a similar long-term mindset.
When
Founded in: 1994
Invested in: 2005
Where
Headquartered: U.S.
Listing status
Public
Important information
The company showcased on this page is part of a diversified portfolio. The commentary should not be taken as advice on an individual stock.
Investment trusts are UK public companies and are not authorised and regulated by the Financial Conduct Authority. You may not get back the amount invested and please bear in mind that past performance is not a guide to future performance.