Even as inflation bites, consumers are still turning to Amazon
Summary
Consumer spending was flat month-over-month in September, according to an estimate of retail sales for the month provided by the Commerce Department on Friday. Amazon is the "clear leader" in the online shopping internet space among U.S. consumers, capturing almost 60% of market share, Baird analysts wrote in a research note Friday. Respondents said speed of delivery and convenience were key factors for shopping on Amazon, outweighing price concerns, according to analysts at Cowen. For example, its cloud business, Amazon Web Services, consistently posts robust revenue growth and delivers high profit margins, allowing us to be bullish on the company despite growing macroeconomic headwinds. NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.