Amazon (NASDAQ:AMZN), an e-commerce giant that has profoundly reshaped the retail industry over the years, is another example of a market leader in the Portfolio. Borrowing a concept from Costco, Amazon offers an optional membership-based business model through its Amazon Prime service. In addition to its retail business, Amazon has a state-of-the-art, rapidly growing web services business that enables companies and other organizations to outsource their computer systems to Amazon’s digital cloud.
From Chris Davis (Trades, Portfolio)' Davis Opportunity Fund 2017 semi-annual report.
