Topic: How To Invest

Power Growth Investor Hotline – Friday, August 12, 2022

Article Excerpt

AMAZON.COM INC., $143.55, symbol AMZN on Nasdaq, is a buy. The company is one of the world’s largest online retailers. It’s also the third-largest digital ad provider in the U.S. Through its Amazon Web Services (AWS), the company is also one of the world’s largest cloud infrastructure service providers. Amazon is now buying Roomba maker iRobot Corp. (symbol IRBT on Nasdaq) for $1.7 billion in cash. iRobot would be the fourth-largest acquisition by Amazon, ranking behind the 2017 acquisition of Whole Foods for $13.7 billion, an $8.5 billion purchase of movie studio MGM in March 2022, and last month’s agreement to buy 1Life Healthcare for $3.9 billion. iRobot introduced its Roomba vacuum in 2002 and has sold more than 40 million units since then. The wireless, smart vacuum learns and maps spaces to clean dust and messes. iRobot also sells its Braava Jet smart mop and handheld vacuum. Massachusetts-based iRobot has an estimated 75% of the U.S. smart vacuum market. In addition, Amazon and…

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