Investors that were amongst the earliest to hold a sizeable amount of stock for Amazon Inc. (NASDAQ: AMZN) presently find themselves as millionaires, owing to its epic rise in the last decades.
Their story reflects a dream scenario for most long-term investors that aim to hit gold by buying and holding a similar stock.
Although in hindsight, it remains near impossible to distinguish between stocks that can rise to the top, against the ordinary.
Finding the next Amazon stock is not an easy venture, especially considering its rise of 200,000% from its IPO to the end of 2020.
Despite the challenges of investment strategies aimed toward this outcome, stocks do show signs of high promise that are worth betting on.
If one holds a sizeable portfolio of such high-potential stocks, the probability of succeeding rises significantly.
In this spirit, we present 7 stocks that could potentially repeat an Amazon-inspired success story.
What Is the Next Amazon Stock?
Have you ever wondered what company is the next Amazon? Well, you’re not alone! Many investors are constantly on the lookout for the next big thing in the stock market.
Identifying the next Amazon stock is like finding a diamond in the rough—it requires careful analysis, research, and a touch of intuition.
Investors are curious because they want to spot that hidden gem, the underdog with immense growth potential.
It’s all about finding a company that has the potential to disrupt industries, capture market share, and experience exponential growth, just like Amazon did.
So, let’s dive in and explore the possibilities of what company is the next Amazon!
Investment Criteria for Battered Stocks
When searching for battered stocks with the potential to become the next Amazon stock, investors should consider a few key criteria:
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Battered Stock Opportunity
Look for companies that have experienced significant downturns in their stock prices, presenting a potential upside for investors.
This will shift your focus toward what company is the next Amazon.
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Industries Ripe for Disruption
If you truly want to know what is the next Amazon, focus on sectors with massive growth potential, like e-commerce, cloud computing, or emerging technologies, where the next Amazon could disrupt existing markets.
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Innovative Products and Competitive Advantage
Seek companies with innovative products or services, a strong market position, and a sustainable competitive edge. the next Amazon stock should have the ability to capture a substantial market share.
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Financial Health and Growth Potential
Evaluate the company’s financials, including revenue growth, profitability, and cash flow, to assess its future prospects.
Also, consider the management team’s track record and their ability to execute strategies effectively.
Promising Candidates for the Next Amazon
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JD.com
In trying to locate the next Amazon stock, perhaps the smartest approach would be to find a company that most closely follows the Amazon business model.
This goes to the Chinese retail and supply chain tech company, JD.com (NASDAQ: JD).
JD is often labeled as the ‘Amazon of China’ by analysts, given a similar approach of holding then selling inventory through its eCommerce channels.
The company is further investing billions in cutting-edge supply chain improvements, which are sure to deliver its rocketing growth.
Although JD remains second behind the e-commerce giant Alibaba Group (NYSE: BABA), its diversification into other business areas tremendously boosts its upside potential.
For instance, its strategic collaboration with Walmart Inc (NYSE: WMT) works to propel its standing in the brick-and-mortar domain.
Offline ambitions in an era defined by a wider digital transition may seem questionable to some.
However, JD is clearly working towards diversifying its business streams and reaping synergistic benefits.
Its advancements in AI and cloud technologies further hint at the surging growth trajectory that JD is likely to rise by, in the long-term future.
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Pinterest
Pinterest Inc (NYSE: PINS) is a company that has had its ups and downs.
The company operates a social media platform that labels itself as a “visual discovery engine”, allowing its users to browse through images posted on the website.
At present, the company stands as one of the worst hit in the macroeconomic headwinds that brought down the entire market into a bear category.
PINS trades at a price 75% below that of 12 months ago.
Despite this, however, those with foresight would think twice before tossing aside PINS as the next Amazon stock in the making.
Amazon had faced its fair share of challenges in the past.
Giants like Apple Inc (NASDAQ: AAPL) even faced bankruptcy before conquering the markets.
In comparison, Pinterest seems far safer, despite market circumstances.
From a business standpoint, the company continues stellar progress with its revenue climbing 18% in its first quarter, on a year-on-year basis.
Even more promising is its venture into social commerce, which remains a unique concept, yet exceptionally revolutionary.
Its downward trend over the last year only adds to this high-promise stock’s upward potential.
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Opendoor Technologies
If there’s one aspect that turns an ordinary stock into a legendary one, it’s the degree of innovation that defines its business approach.
This was very much the case for Amazon, which had brought on disruptive innovation, and made an e-commerce breakthrough.
Similarly, Opendoor Technologies Inc. (NASDAQ: OPEN) is a true innovator in the real estate domain. It has combined the strengths of digital space and e-commerce with that of real estate.
The company is on its way to achieving an undisputed leadership position of its market, especially after the failure of its rival, Zillow, in 2021.
Many analysts have pointed out that Opendoor stands in a position to become the ”new normal” in the digital real estate space.
If the company manages to overcome present headwinds, then there is little stopping it from becoming the Amazon of the digital real estate domain.
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Jumia Technologies AG
We turn our sights to a place where most would not expect the next Amazon stock to emerge from.
We look towards Africa, where the emerging e-commerce giant, Jumia Technologies AG (NYSE: JMIA) has been the center of attention amongst bulls.
The company’s stock price shows a wild roller coaster of ups and downs.
Furthermore, e-commerce in Africa is far more complicated than the markets in Europe, North America, and Asia.
Despite this, however, Jumia holds the potential to be a true game-changer.
Jumia is working towards building a digital platform to connect buyers and sellers in the African markets.
It is a pioneer in its realm but is well positioned to sky-rocket with the young African population and their internet access.
The continent holds a population of above one billion, which remains almost entirely untapped.
With no competitors to its scale, JMIA is evidently sitting on a gold mine.
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Square
Square Inc (NYSE: SQ) takes a unique approach to payment processing, one that is defined entirely by a futuristic outlook.
It takes a flexible approach through its various payment platforms, allowing it to dynamically restructure itself to future market shifts.
Its Cash App platform, which is the company’s biggest revenue earner, allows users to trade Bitcoin with each other.
Many have pointed out that Square could be an entirely different company in the future, one that is structured completely by how the market will look.
Few companies hold this inherent capability to remain flexible to future changes.
Each of Square’s various business segments continues to see stellar growth, and will likely do so as its services become more mainstream.
Payroll services, gift cards, business loans, and online checkouts continue to gain traction.
Yet the possibilities remain limitless for the future to make it the next Amazon.
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Roku
If you are wondering what stock will be the next Amazon, look no further than the star digital streaming player, Roku Inc. (NASDAQ: ROKU).
Over the years, despite its small size, Roku has established itself as a worthy competitor to the giant, Netflix.
Netflix, which is well past its glory days, has many doubting its future capability.
Bulls are instead turning towards Roku, the innovation of which has significantly boosted its upside potential.
The company capitalizes upon the mass transition away from cable TV, and toward digital spaces.
It offers a device stick to be plugged into television sets, where customers can access thousands of streamable films and television series.
As television becomes obsolete, many players have risen to the occasion of attempting to fill the void with digital streaming.
Despite the opportunity, many continue to face a set of hard challenges.
The most significant example is that of Netflix, which continues to see its user base dwindle.
Password-sharing, migration to other platforms, and digital piracy have all contributed to these worsening conditions.
Roku, on the other hand, uses multiple innovative tools to avoid these challenges in a sustainable manner.
An example is its multiple streaming facility which can be accessed within a single location.
The result is a loyal subscription base, which continues to climb in an environment where competitors are failing to retain, let alone grow customers.
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Workday
Workday Inc. (NASDAQ: WDAY) is another star player catching the attention of market participants.
Workday is an enterprise cloud applications provider, with offerings that meet the needs of countless industries and backgrounds.
With its involvement in financial services, healthcare, media, education, and government, among many more, WDAY offers services across the board.
The company’s Human Resource application in particular has caused substantial growth, with the stock soaring significantly in recent years.
Few HR service providers offer as wide an analytics-based application to clients, yet Workday achieves exactly this.
Through the use of PaaS (platform-as-a-service), the company has substantially enhanced its upside potential within the global markets.
With this complete offering in its enterprise services, Workday could truly grow big.
As Amazon saw a rocketing climb amongst retail customers, Workday could potentially see the same popularity among corporate clients, if it plays its cards right.
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ServiceNow
Why is ServiceNow (NYSE: NOW) a battered stock that could be the next Amazon? Let’s dive in.
ServiceNow has shown impressive topline growth, ranging from 20-70% CAGR over the past decade, along with strong profitability ratios.
Consensus estimates expect continued double-digit percentage growth in both earnings per share (EPS) and revenue for the next eight years.
Valuation calculations indicate a significant upside potential, outweighing potential risks.
With its unique cloud-based management applications, a growing customer base of large enterprises, and a subscription-based model, ServiceNow is positioned to make waves in the market, just like Amazon did in its early days.
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Fiverr
Meet Fiverr International Ltd. (NYSE: FVRR), the potential next Amazon in the online marketplace world.
With a $247 billion freelancing market shifting to online platforms, Fiverr’s leadership and execution inspire confidence.
Though near-term challenges exist due to macroeconomic factors affecting SMBs, Fiverr’s focus on profitability and margin leverage is encouraging.
There is much to be bullish on this battered stock with its year-end price target at $35.
Its strong Q1 performance, stable customer cohorts, and AI integration make Fiverr a long-term buy in the evolving freelancing landscape.
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Tellurian
If you are wondering what stock will be the next Amazon, look no further than Tellurian (NYSE: TELL).
The company has faced its fair share of ups and downs, but recent developments have positioned it as a potential game-changer.
With Driftwood LNG set to raise a staggering $12-15 billion, Tellurian’s shares could soar by five-fold or reach $8/share.
The company’s unique business model, which integrates liquefaction and LNG production, sets it apart from traditional players like Cheniere Energy Inc (LNG).
Despite its volatile history, Tellurian’s prospects look promising, making it an intriguing contender on the path to becoming the next Amazon stock.
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Genelux
Genelux (NASDAQ: GNLX) is a battered stock that could be the next Amazon in fighting cancer.
They use advanced oncolytic viral immunotherapies to target solid tumors.
Their candidate, Olvi-Vec, destroys cancer cells while sparing healthy tissue.
Genelux secured over $65 million in funding, conducted successful trials, and has a strong investor base.
Their recent top-line results in JAMA Oncology highlight their potential.
While concerns exist, Genelux’s broad application prospects, financial position, and dedication to innovation make them a strong contender in the immuno-oncology market.
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NIO
Let me tell you about NIO (NYSE: NIO), a battered stock that could be the next Amazon. It recently got a whopping $738.5 million investment from Abu Dhabi.
This is a game-changer for the Chinese EV maker.
It helps NIO financially, boosts its cash resources, and opens doors to the Middle Eastern electric vehicle market.
Abu Dhabi is following Saudi Arabia’s lead in the EV industry, and NIO could ride that wave.
Keep an eye on NIO—it’s undervalued and has the potential to soar just like Amazon did.
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Enovix
Enovix (NASDAQ: ENVX) could be the next Amazon stock in the market. They make advanced lithium-ion batteries for mobile, IoT, and EV applications.
Their 3D Silicon Lithium-ion battery design boosts performance, overcoming challenges with swelling and cracking.
With a $6.8 billion market opportunity in mobile computing by 2029, Enovix’s batteries offer significant capacity advantages.
They’re expanding manufacturing and have a strong financial position with over $440 million in cash. With a valuation of $2.8 billion, there’s room for growth.
Wall Street analysts unanimously recommend buying Enovix shares. It’s an exciting prospect in a booming industry!
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Snowflake
Snowflake In. (SNOW) has the potential to be the next Amazon stock.
With sales soaring from $100 million to over $2 billion in just a few years, they are disrupting the data cloud industry.
Their platform combines data management, analysis, machine learning, and data sharing.
Market potential is huge, with a $248 billion addressable market by 2026. Snowflake’s flexible architecture sets them apart from competitors like Teradata.
Challenges exist, but the long-term growth outlook is positive. Consider investing in this battered stock for a shot at the next Amazon stock.
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Cloudflare
Cloudflare (NET) is a battered stock with the potential to be the next Amazon.
Its strong technology tackles critical issues and aligns with emerging trends like 5G, IoT, and security.
Cloudflare’s shift towards advanced service functionalities and large enterprise adoption has led to new customer acquisitions and accelerated revenue growth.
With an appealing subscription pricing model and conservative financial goals, Cloudflare is poised for success.
Despite temporary setbacks, it stands out in the industry.
Invest in Cloudflare, with an end-of-year price target of $75. It’s the next big thing.
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Navitas Semiconductor
Navitas Semiconductor (NASDAQ: NVTS) is a battered stock with the potential to be the next Amazon.
With its disruptive technology in the power industry, Navitas is making waves.
The recent acquisition of GeneSiC has propelled the company to the top as the only pure-play, next-generation power semiconductor player.
Navitas’ GaN power circuits offer faster charging and higher energy storage.
With over 120 patents, a huge TAM, and leading proprietary technology, Navitas is undervalued and worth considering as an investment opportunity.
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Stagwell
Let’s talk about another battered stock that could be the next Amazon. Keep an eye on Stagwell Inc. (NASDAQ: STGW).
The fundamentals show robust growth, even though the technical situation is less favorable.
Stagwell operates in the digital advertising market, which is expected to grow steadily. They expect solid revenue growth and attractive valuation metrics.
The stock price may be lackluster for now, but if it gains momentum, Stagwell could be a game-changer. So, keep an eye on this one!
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ReGen III Corp.
ReGen III Corp. (GIII.CA) is a battered stock with the potential to become the next Amazon.
Despite a tough 2022, this small-cap Canadian company is a player in the Group III base oils market.
Its industry-disruptive technology and strategic partnerships make it an attractive acquisition target.
ReGen III offers a green investment opportunity, recycling used motor oil into high-value base oils.
While systematic risks exist, its innovative approach and long-term prospects make it an exciting choice for risk-tolerant investors seeking high growth.
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Vera Therapeutics
Vera Therapeutics (NASDAQ: VERA) has the potential to become a massive success story, much like Amazon.
The positive results from their Phase IIb trial for atacicept in IgA nephropathy (IgAN) management indicate a promising future.
With proteinuria reductions and stable kidney function demonstrated through week 36, the company is on the right track to revolutionize the treatment of this rare kidney disease.
As the market for IgAN therapies grows and with limited competition, Vera Therapeutics has a significant opportunity to establish itself as a major player and achieve remarkable success in the biotech industry.
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SentinelOne
SentinelOne (NYSE: S) is the cybersecurity star of the future.
With its cutting-edge AI-driven protection, the company is taking on advanced cyber threats with agility.
As digital dangers multiply, SentinelOne’s services are in high demand.
Teaming up with industry titans like Amazon Web Services (AMZN) and Microsoft (MSFT), SentinelOne is poised to dominate the cybersecurity industry.
Their Q4 2022 report boasted an incredible 92% YoY revenue growth, even during a global crisis.
SentinelOne’s potential to redefine the industry and generate substantial returns is massive.
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Plug Power
Plug Power (NASDAQ: PLUG) recently made significant announcements, showcasing its potential for exponential growth.
It signed an agreement with Avina Clean Hydrogen, expanding its presence in the mobility market.
The company aims to produce over 2,000 TPD of hydrogen per day and ship 5 GW of electrolyzers annually by 2030, demonstrating its ambitious goals.
With a focus on replicable green hydrogen plants, strong momentum in applications like stationary power, and a dedicated team committed to consistent execution, Plug Power has the potential to become the next Amazon in the evolving hydrogen industry.
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Icosavax
Say hello to Icosavax (NASDAQ: ICVX), a US biotech company that’s developing vaccines for respiratory viruses like COVID-19 and RSV.
Their VLP technology creates vaccines that elicit stronger immune responses with fewer side effects.
With a potential multi-billion-dollar franchise in their lead RSV+hMPV vaccine, Icosavax is well-positioned for success.
Plus, their VLP platform allows for the fast development of new vaccines.
With $198 million cash on hand, Icosavax has the potential to make a big impact in the $10 billion+ vaccine market. It’s a stock worth keeping an eye on!
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Agilent Technologies
Why Agilent Technologies (NYSE: A) could be the next Amazon?
Well, it operates in the healthcare sector, which is seeing a decline, but that means potential discounts.
Agilent’s share price is down, and its operational excellence in Chemicals and Advanced Materials is noteworthy.
With a huge market opportunity and impressive margin profile, Agilent is primed for growth.
Plus, its solid capital deployment program and new buyback plan make it an attractive investment.
So, if you’re looking for a company with growth potential and a reasonable valuation, Agilent is worth considering.
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EXLService Holdings
EXLService Holdings (NYSE: EXLS) has the potential to be the next Amazon.
Their strategic shift towards analytics, early adoption of AI, and strong financial performance make them a standout.
With consistent double-digit growth, industry-leading profit margins, and the backing of billionaire investors, EXLS is primed for success.
They outperformed competitors and industry giants like IBM and Accenture.
This data analytics and digital solutions company has the potential to become a massive player in the market, unlocking significant value for investors.
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Nvidia
Nvidia, another battered stock, could be the next Amazon. They’re not just a chip company anymore; they’re in accelerated computing and AI software.
With a growing data center market, expanding gaming segment, and its full ecosystem, Nvidia has the potential to reach $380 billion in revenue by 2032.
Their GPU technology is ahead of the competition, and they’re well-positioned for the AI era. Keep an eye on Nvidia because it could be huge.
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Fisker
Fisker (FSR), the EV company, has a massive order book of 65,000 vehicles and deliveries are starting to ramp up.
Their Ocean SUV stands out with the longest range and lowest carbon footprint in its class.
Sure, profitability is not here yet, but with a revenue ramp-up and a favorable market backdrop, the potential is huge.
If they hit their production targets, secure more capital, and ride the EV wave, Fisker could surprise us all and become the next Amazon. Keep an eye on it!
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Workday
Let’s talk about the last hidden gem in the battered stock market which could be the next Amazon – MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT).
They make wake surfing boats and have been killing it for three straight years, with FY2023 sales 30% higher than pre-pandemic levels.
Their balance sheet is healthy, and they’ve got a bunch of innovations lined up for a strong Q4.
With the US recreational boating industry set to boom, this small-cap stock has the potential to soar.
It’s trading below the average price target, so investors should consider taking a bullish stance.
Asset Allocation vs Hot Stock Selection
When it comes to determining what is the next Amazon among stocks, there are two key approaches to consider: asset allocation and hot stock selection.
Let’s break down the difference between the two.
Asset allocation is like building a diverse portfolio that spreads your investments across various asset classes. It’s basically putting all your eggs in one basket.
In this context, it means considering stocks from different sectors and industries.
By diversifying, you reduce the risk of being heavily reliant on a single stock or sector, thus safeguarding your investments.
On the other hand, hot stock selection is more about identifying individual stocks that show promising growth potential.
It’s like finding those hidden gems that could skyrocket in value, just like Amazon did.
This approach requires thorough research, analyzing company fundamentals, market trends, and other relevant factors that indicate a stock’s potential for substantial growth.
So, when you ask what is the next Amazon, what approach should you take?
Well, both have their merits. Asset allocation provides stability and risk mitigation, while hot stock selection offers the possibility of higher returns.
Striking a balance between the two could be the key to success, as it allows you to benefit from diversification while still pursuing those high-growth opportunities.
What’s The Chance for A Recession This Year?
Alright, let’s talk about the chances of a recession this year, and how it affects our search for the next Amazon.
The good news is that economists are feeling less worried about a recession.
Based on a recent survey conducted by The Wall Street Journal, the likelihood of a recession occurring within the next 12 months has decreased from 61% to 54%.
It’s the biggest drop since August 2020.
The economy has shown resilience despite interest rate hikes and cooling inflation.
Economists even expect GDP to grow at a 1.5% annual rate in Q2. So, while a recession is still possible, things are looking up, which bodes well for our investment pursuits.
While we can’t predict the future with absolute certainty, it’s encouraging to see economists becoming more positive about the economic landscape.
As we search for the next Amazon among the battered stocks, a lower probability of a recession can certainly give us some added confidence.
Keep your eyes peeled and your investment strategies sharp because opportunities may be on the horizon.
How Do I Find the Best Stocks to Buy?
Finding the best stocks is all about digging deep and doing your homework.
Start by looking for companies with disruptive ideas, innovative products, and a strong competitive edge.
Keep an eye on emerging industries and trends that have the potential for explosive growth.
Study the financial health, management team, and market positioning of these companies.
And don’t forget the power of research and analysis – read up on industry reports, news articles, and expert opinions.
Remember, finding the next Amazon takes a combination of research, intuition, and a little bit of luck.
Conclusion
Looking for the next Amazon stock, which would result in one’s portfolio turning into a fortune is no easy task.
However, looking at the trend taken by previous winners, we get a sense of which indicators to look out for, and which to overlook.
The stocks presented in this article each offer unique inherent strengths and significant opportunities to take off.
Buying these stocks now, and holding them for the long term could yield a massive turnaround.
The potential for growth could possibly be as tremendous as it had been in the case of Amazon.
FAQs
What Company Is the Next Amazon?
The next Amazon could be an underdog with disruptive ideas, poised to revolutionize an industry and capture market share.
What Stock Will Be the Next Amazon?
It is challenging to identify a specific stock that will be the next Amazon as stock performance is influenced by multiple variables and market dynamics.
Keep an eye on companies with innovative products, visionary leadership, and a hunger for growth.
