Unlike many other companies, e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN) has been on a roll since the coronavirus pandemic started. As the demand for online retail surged amidst the pandemic, it led to a significant boost in profits and sales for Amazon.
Investors who might be interested in the Amazon stock need to take a look at some of the factors behind bullish sentiments. The company showed tremendous resilience during the tough times and continued to serve customers diligently without raising the price of its services.
On the other hand, its Prime program has grown rapidly due to the pandemic as well. At the start of 2020, there were 150 million Prime members but over the next 12 months, as many as 50 million new members were added.
At a time when people were not too keen to go out, Amazon continued to deliver and that resulted in such growth in Prime memberships. Last but not the least, Amazon Web Services has continued to be a major revenue generator. In 2020, it generated revenues of $45 billion and it is believed that the revenues could go up to $50 billion in 2021.
Finance and Entertainment Reporter
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