Why Amazon Stock Is a Must-Buy Now According to Top Wealth Manager | Markets

Downtown Josh Brown, the CEO of Ritholtz Wealth Management, appeared on CNBC’s Halftime Show on June 4. Brown admitted that he doubled his stake in Amazon (NASDAQ:AMZN) stock.

“Amazon is right now selling at 18 times enterprise value to EBITDA,” Brown said while appearing on the show. “The three-year median is more like 22, the five-year median is 25, and the 10-year median is 30. This is the cheapest you have been able to buy Amazon stock in quite some time.”

According to Brown, not only is its stock cheap, but it will lead the AI revolution. He certainly makes an interesting argument for this, including reminding investors that the employee head count reduction to remedy overtiring during the pandemic has righted its operating expenses relative to its revenues and growth.

He’s doubled down. You should, too. Here’s why.

It’s All Relative When It Comes to Amazon Stock

If you bought AMZN stock five years ago, you barely doubled your money. If you bought AMZN stock at the end of 2022, you would have also doubled your money, only 43 months faster. That speaks to the turnaround Brown alluded to in his CNBC commentary.

I’ve written about Amazon five times in 2024. In all four previous articles, I was very bullish about its business. I don’t intend to change my stripes. Josh Brown’s comments only cement my belief that its…

Source investorplace.com

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