Amazon.com, Inc. (NASDAQ:AMZN) has been flat during the last six months, as of October 15. This compares to a 21.5% return for the Insider Monkey Billionaire Index and 15.74% for the State Street SPDR S&P 500 ETF Trust. Amazon has a history of building businesses that eventually become valuable in their own right. AWS started with the infrastructure Amazon needed to run its website, while advertising grew out of the traffic coming to its online store. Now, the company is looking for similar opportunities with its custom chips and logistics network. The strategy has worked before, but Amazon is spending on a much larger scale this time. The big question is whether these investments will deliver returns that justify the cost.
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