Not many businesses dominate quite like Amazon ( AMZN 1.60% ) does. The massive tech enterprise is currently valued at nearly $2 trillion.
This huge figure comes from a rapidly rising share price, which has soared $1,000% in the past decade and 7,400% in the past 20 years. This " Magnificent Seven " stock has rewarded its shareholders in remarkable fashion. However, investors might want to consider another e-commerce business that could be flying under the radar right now.
It might even be a better buying opportunity than Amazon. Amazon's dominance can't be overstated I believe we should first take the time to appreciate Amazon. The company originally sold just books online during its founding in the 1990s.
But now, virtually any item you can think of can be purchased on the popular website. This wide reach has resulted in nearly 40% of all money spent online in the U.S.
going through Amazon.com. That's a tremendous statistic.
Even more telling, Amazon's online stores raked in $235 billion in net sales in the past 12 months. The company relentlessly focuses on low prices and a wide selection. And if that wasn't enough to provide customers with a great shopping experience, Amazon's massive and developed logistics footprint enables fast and free shipping.
It's hard to compete with this. Besides e-commerce, Amazon has a strong position in other categories, namely cloud computing, streaming entertainment, and digital advertising. It has multiple growth engines that can propel it.
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