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Why I’m long Amazon: Garnry
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Peter Garnry, Saxo Bank’s head of equity strategy, explains why he thinks Amazon - the largest internet-based retailer in the US - is in a strong position.
Amazon’s growth is 22% year-on-year with Q1 revenues of $29 billion. The stock is currently worth around $700 per share.
Garnry says the American company has broadened its electronic commerce strategy into cloud computing - up nearly 70% y/y - and entertainment streaming services with Amazon Video Direct.