Next step for AMZN

Article Excerpt

AMAZON.COM INC. $3,585.20 is a buy. The company (Nasdaq symbol AMZN; TSINetwork Rating: Average) (www.amazon.com; Shares o/s: 504.3 million; Market cap: $1.8 trillion; No divds.) now has a new CEO—long-time Amazon employee Andy Jassy—after Jeff Bezos stepped down on July 5. The date marks 27 years since Bezos founded the business. Jassy will now be in charge of the vast company that Bezos built. That extends beyond Amazon’s main e-commerce arm to the bricks-and-mortar Whole Foods grocery chain, online pharmacy PillPack, and a global logistics service spanning land, sea, and air. That’s not all. Jassy will manage the entertainment offerings of Amazon, as well as the entire hardware line including Kindle, Alexa, and the Ring security camera company. Meanwhile, Jassy will remain in charge of the operation he led before becoming CEO—the Amazon Web Services cloud computing business. All in all, we still like Amazon’s prospects for investors. Amazon.com is a buy. buy…