Technology

BofA Securities Takes a Huge Gamble Adding Red-Hot Tech Giant to US 1 List Now

We screened the US 1 list and found three other technology leaders that also could be good ideas for long-term aggressive growth investors.

Amazon

This remains the absolute leader in online shopping, and it is the technology anchor on the US 1 list. 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. It has one of the most valuable brands in the world.

The company serves developers and enterprises through Amazon Web Services, which provides computing, storage, database, analytics, applications and deployment services that enable virtually 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, especially during the busy Christmas shopping period, as Amazon remains the go-to portal for shoppers looking for holiday bargains and a way to stay out of brick-and-mortar stores this year if they choose to.

BofA Securities has a $3,650 price objective for the technology giant, but the consensus figure is much higher at $3,812.78. The last Amazon.com stock trade on Monday came in at $3,158 per share.

Equinix

This is one of the larger companies in the data center arena. Equinix Inc. (NASDAQ: EQIX) provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle East, Africa and the Asia-Pacific.

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