Amazon.com (AMZN, Financial) is an e-commerce and cloud computing company. We believe that Amazon has built a global competitive advantage that will allow it to obtain a material share of the worldwide retail (not just e-commerce) market over a long period of organic growth. Amazon’s strong, customer-obsessed culture is unique among technology and retail firms, which has provided several new long-term investment opportunities. In addition to the retail business, the company’s Amazon Web Service (AWS) business has built significant share and scale within the infrastructure as a service market. AWS business is highly profitable and participates in a large and growing market.
From Weitz Investment Management's Value Fund fourth quarter 2016 commentary.
