Amazon is known to be among the biggest retailers in the United States of America. It is a go-to online destination for a lot of American consumers looking for all kinds of goods and services.
Knowing how strong the company Amazon has become and also the future potential for growth, it is possible for you to want to invest in the known retail giant.
So, we are going to give you a quick guide on how you can buy stocks on Amazon and become one of their investors.
They are known to be one of the largest employers in the US, having close to 650,000 employees and generates more than $230 billion in revenue.
Amazon has so many competitors, but its major competitors includes;
- Best buy
- Target
- Costco
- Walmart
From the e-commerce front, its major competitors includes:
- Netflix
- eBay
- Apple
- Time Warner Cable
When it comes to cloud computing services (Amazon Web Services), it is in competition with:
- IBM
- Oracle
- Microsoft
- Alibaba
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How You Can Buy Stock on Amazon
If you want to buy stock on Amazon, the simplest way to do so is via a brokerage account, and you will need to open one if you don’t have any.
Here are examples of popular brokerage platforms:
- TD Ameritrade
- Charles Schwab
- E*TRADE
- Vanguard
- Fidelity
You can be able to buy the stock with the use of either a market order or a limit order.
The Amazon Direct Stock Purchase Plan (DSPP)
In case you wish to buy stock directly in Amazon, without using any of the brokers, then count yourself lucky because the launched its DSPP in August 2019. You just start by creating your own account with Computershare and that is where you can be able to buy, keep, and sell your Amazon stock.
Having ownership via a mutual fund
If you don’t want to buy stocks of Amazon directly, it is possible for you to own them indirectly via an ETF or a mutual fund. Even if you have your stock via a mutual fund or an index fund, you will still have the benefits of diversification to other stocks.
Using a robo-advisor
Incase you wish to have more diversification in your portfolio, you can make your investment with a robo-advisor.
Consulting a Financial Advisor
Let’s say you really want to buy stock in Amazon, but you are not really sure if you should, the best option is to get expert opinions and that is by consulting a financial advisor.
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