Savvy investors who had the foresight to invest in Amazon.com a decade ago have been rewarded with a prime packed of profit as the Seattle company grew into an online titan.
If you regret missing out, don’t feel bad. You are in good company.
Warren Buffett, chief executive officer of Berkshire Hathaway, also declined to invest in Amazon when he had the chance, CNBC explained.
At Berkshire Hathaway’s annual meeting in May 2017, the self-made billionaire said he didn’t appreciate the value of tech stocks at first: “I was too dumb to realize. I did not think [Bezos] could succeed on the scale he has.”
Citing Amazon’s massive success, Buffett went on to say he “really underestimated the brilliance” of Amazon’s execution and called Bezos “the most remarkable business person of our age.”
Meanwhile, Amazon itself continues to seemingly grow in which it is involved.
For example, Amazon recently started offering curbside pickup at Whole Foods stores, in its latest gambit to win over U.S. grocery shoppers, Reuters reported.
Customers can place orders via Amazon’s Prime Now app and ask to have groceries loaded into their car upon arrival at a store, the company said in a statement. The service is now available in Sacramento, California, and in Virginia Beach, Virginia, with plans to launch in other cities this year.
The world’s largest online retailer is working to crack the $800 billion market for U.S. groceries by popularizing delivery from Whole Foods stores, and now pickup. Cheaper than delivery, pickup has long been touted by far larger grocery companies Kroger Co and Walmart Inc, which have been rolling out the service to thousands of stores.
(Newsmax wire services contributed to this report).
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