Yahoo Finance Amazon (AMZN) Looks to Expand in Nevada, Create New Jobs
Amazon.com, 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.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, 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, Overstock.com 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, Overstock.com, and Maxim is currently projected at 15%, 20% and 10%, respectively.
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