investing

The Best Stock in Washington State: Amazon.com

We analyzed publicly traded companies based in the Evergreen State to identify the best stock in Washington to buy now.

We scoured the nation to identify the best stock in every state. Amazon.com (symbol AMZN) is the publicly traded company we picked in Washington. The company headquarters is located in Seattle.

A word of caution: Since we selected a single stock from each state (plus one from D.C), and choices in some states are sparse, a few of our picks are best suited to investors comfortable with a higher degree of risk. This is not necessarily one of our 51 favorite stocks in the entire U.S., in other words.

Amazon.com by the Numbers

  • Headquarters: Seattle
  • Share price: $1,001.03
  • Market value: $478.6 billion
  • Price-earnings ratio: 125

(Prices and data are as of June 22, 2017)

Amazon’s world takeover continues. The retail behemoth announced in June its intention to acquire upscale grocer Whole Foods Market (WFM) for $42 a share. As a result of the merger, say analysts at Wedbush, Amazon is positioned to rapidly expand its Amazon Fresh grocery delivery business, for which Prime subscribers currently pay an additional $15 per month. The purchase also means that Amazon picks up 440 Whole Foods stores, located in most major urban areas in the U.S. representing a big increase in refrigeration-equipped distribution centers for the company. Amazon may eventually offer grocery delivery in an hour or less nationwide, says Wedbush.

In the meantime, analysts say, Whole Foods stores will be ideal outlets for popular Amazon products such as Kindle, FireTV and Echo. Wedbush sees the acquisition driving sales growth over the next several years as the company expands its grocery business, and it assigns an “outperform” rating to the stock along with a 12-month price target of $1,250.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
7 Best Commodity Stocks to Play the Coming Boom
commodities

7 Best Commodity Stocks to Play the Coming Boom

These seven commodity stocks are poised to take advantage of a unique confluence of events. Just mind the volatility.
September 8, 2021
Stock Market Holidays in 2021
Markets

Stock Market Holidays in 2021

Is the stock market open today? Take a look at which days the NYSE, Nasdaq and bond markets take off in 2021.
September 2, 2021

Recommended

These 2 Emotional Biases Could Kill Your Retirement
Investor Psychology

These 2 Emotional Biases Could Kill Your Retirement

Are your emotions sabotaging your retirement plans? Some basic knowledge and careful introspection can go a long way toward avoiding major pitfalls.
September 20, 2021
Investment Strategies for the 4 Stages of the Economic Cycle
Markets

Investment Strategies for the 4 Stages of the Economic Cycle

The U.S. economy is cyclical in nature, surging ahead and pulling back in waves over time. Investors’ portfolios need to change with the rise and the …
September 19, 2021
Kiplinger's Weekly Earnings Calendar
stocks

Kiplinger's Weekly Earnings Calendar

Check out our earnings calendar for the upcoming week, as well as our previews of the more noteworthy reports.
September 17, 2021
Hot Upcoming IPOs to Watch For in the Rest of 2021
Kiplinger's Investing Outlook

Hot Upcoming IPOs to Watch For in the Rest of 2021

The most exciting initial public offerings (IPOs) expected during the remainder of 2021 range from an Amazon-backed EV play to a food delivery app to …
September 16, 2021