While numerous firms are coping with the losses that they have incurred during the coronavirus pandemic, Amazon is a company that has passed through this time with all its glory. The earnings of the third quarter have come out to be $96.1 billion which was a jump by 37%. The income per share is $12.37 which has almost tripled from the earlier income ($4.23 per share). There has been, however, a fall in the prices which was unexpected. The third-quarter earnings have come out to be exceptionally well even during the time of this pandemic because there were many additional expenses. These additional expenses will vanish as soon as the pandemic clears out completely.
The operating cost is increasing now because the company has hired 250,000 new employees. The money will be spent on recruiting, hiring, and training new employees. Even if the stocks have gone down, but its revenue has earned the company a lot of praise and the position of the company in the stock market is unthreatened.
The current profitable stock
The analysts are very happy with the outcomes of the company. Amazon is on the path of progress and the result of the next quarter is expected to be even more glorious. We can say, at present, Amazon is a perfect stock to buy. Every investor wants to invest in a stock that brings them profit and this stock satisfies this condition undoubtedly. It is highly profitable whether we consider the present scenario or analyze the future. The company has a promising future and hence, it is definitely worth the buy.
Statistics of Amazon Inc. (NASDAQ: AMZN)
The 52 Week Range of the stocks of Amazon Inc. (NASDAQ: AMZN) is from $1626.03 to $3,552.25, the Average Volume is 4,965,521 and the Market Capital is $1.622T. These statistics clearly show the position of the stock and its solid performance. The current rates are low but the profit will be high. It can be said, the Amazon stock has all that an investor thinks of needs before and after investing.
When a stock could make huge profits even when other companies went into a great loss, then definitely the stocks of such a company are worth buying since there is a very high probability that the investment would not let any investor down in such a case. The company is running smoothly and gave a result that was more than that was expected. In this highly volatile sector of the stock market, one can hardly find a share with a good potential of giving profits. Amazon is such a share, which despite being down, can attract buyers owing to the back to back amazing results it is giving.
Therefore, it is very clear from the information given above that Amazon stock is the current trending stock worth buying. It is an investment of profit for all the shareholders because of its continuous growth even during the time of the Covid-19 pandemic.