BofA Pick Amazon As US Top Stock Pick

The BofA Securities US top stock picks,  Amazon.com Inc. (NASDAQ: AMZN) serves consumers through retail websites that primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers.

The company serves developers and enterprises through Amazon Web Services (AWS), which provides computing, storage, database, analytics, applications and deployment services that virtually enable various businesses. AWS is also the undisputed leader in the cloud now, and many top analysts see the company expanding and moving up the enterprise information value chain and targeting a larger total addressable market.

Like every year, online sales should continue to grow. Amazon remains the go-to portal for shoppers looking for bargains, as well as a good way for consumers to stay out of brick-and-mortar stores this year if they feel the need to.

BofA Securities has a $4,250 price objective for Amazon.com stock. The consensus target is $4,033.86, and Wednesday’s last trade came in at $3443.72.