Canada markets closed
  • S&P/TSX

    -49.06 (-0.27%)
  • S&P 500

    -27.29 (-0.72%)
  • DOW

    -177.26 (-0.57%)

    -0.0055 (-0.70%)

    -1.53 (-2.86%)

    +40.07 (+0.09%)
  • CMC Crypto 200

    -33.21 (-4.52%)

    -23.70 (-1.28%)
  • RUSSELL 2000

    -32.15 (-1.49%)
  • 10-Yr Bond

    -0.0320 (-2.83%)

    -114.14 (-0.87%)

    +1.09 (+4.69%)
  • FTSE

    -66.25 (-0.97%)
  • NIKKEI 225

    -179.08 (-0.62%)

    -0.0002 (-0.03%)

Amazon (AMZN) Looks to Expand in Nevada, Create New Jobs

Zacks Equity Research
·3 min read, Inc. AMZN plans to expand its investments in Nevada with eight new buildings across the state.

These sites are expected to incorporate more than 2,000 permanent full and part-time new positions. The new investment will enable Amazon to offer timely delivery operations to its customers.

The sites are expected to be Amazon’s second latest-generation fulfillment center in the state where robots, vision systems and other high-end technologies will be used to speed up order deliveries during the holiday season.

The latest move underscores its basic strategies of continual expansion and increased focus on fulfilling customer needs., Inc. Price and Consensus, Inc. Price and Consensus, Inc. Price and Consensus, Inc. price-consensus-chart |, Inc. Quote

Our Take

The e-commerce giant has been successful in creating multiple job opportunities while strengthening services all over the world.

The company has a long relationship with Las Vegas as is evident from the fact that ithas heavily invested in the same over the past several years.

The company already operates 11 sites in Nevada. To date, Amazon has created more than 10,500 full and part-time jobs in the state and continues to hire manpower to meet growing customer demand.

It has plans to create more jobs in the city across new corporate offices and customer fulfillment centers.

In a bid to maintain supremacy, Amazon has been expanding on a global basis. To this end, the company is investing more in fulfillment, as well as technology and content. Although increased expenses may hurt Amazon’s bottom line in the near term, we believe these measures are necessary to maintain its dominance in this highly competitive market.

Zacks Rank & Stocks to Consider

Currently, Amazon has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Marchex MCHX, OSTK and Maxim Integrated Products, Inc.  MXIM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth for Marchex,, and Maxim is currently projected at 15%, 20% and 10%, respectively.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report, Inc. (AMZN) : Free Stock Analysis Report
Maxim Integrated Products, Inc. (MXIM) : Free Stock Analysis Report, Inc. (OSTK) : Free Stock Analysis Report
Marchex, Inc. (MCHX) : Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research