More than 50% of our millennial investor panel says Amazon is the FAANG stock to own for the next 10 years

AP Photo/Ben Margot

  • Business Insider assembled a panel of hundreds of young investors who volunteered to share their views about the markets. This is a self-selected group of people under the age of 35 who have a brokerage account.
  • The majority of participating millennial investors picked Amazon as the single FAANG stock they’d want to hold over the next decade.
  • The e-commerce giant’s stock sits just below record highs, having recently surged on a strong earnings beat.
  • Numerous analysts boosted their price target for Amazon shares through the end of July, praising Amazon’s strong positioning in online retail as the pandemic rages on.
  • Google-parent Alphabet was favoured by roughly 27% of the more than 460 respondents.Facebook was the least favoured, garnering only 2% of the vote.
  • Watch Amazon trade live here.
  • Click here to sign up for Business Insider’s millennial investor panel.

Young investors like Amazon more than other tech mega-caps, and it’s not even close.

Of the more than 460 millennial participants in a Business Insider panel, roughly 51% picked the e-commerce titan as the FAANG stock they’d most want to hold over the next ten years. Google-parent Alphabet came in a distant second with 27% of the vote.

The results come from a panel of hundreds of young investors that volunteered to share their views on the markets. This is a self-selected group of people under the age of 35 who have a brokerage account.

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Amazon shares are fresh off record highs, most recently rallying through the end of July after beating analyst expectations for quarterly revenue and profit. Sales for the period surged 40% year-over-year to $US88.9 billion as quarantine activity boosted online shopping. Net profit doubled to a record $US5.2 billion.

The company’s strong earnings were largely driven by sales of more profitable products and shipments of more units, according to Chief Financial Officer Brian Olsavsky. Amazon-branded items grew 57% over the quarter and online sales increased 49%, both more than tripling their year-over-year growth.

Going beyond recent results, Wall Street analysts share millennials’ long-term enthusiasm around Amazon. Bank of America raised its price target on the stock to $US3,560, from $US3,280, following the earnings beat, praising the firm’s strong positioning in online retail and cloud software through the coronavirus pandemic. The firm maintains a “buy” rating for the stock.


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Amazon closed at $US3,138.83 on Tuesday, up roughly 70% year-to-date.

Apple took third place in millennial investors’ rankings with 15% of respondents picking the iPhone-maker as their FAANG stock for the 2020s.

Netflix garnered nearly 4% of the vote and took fourth place. Facebook was far and away the least favoured, with just 2% picking it as the tech giant they’d want to own.


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