After months of anticipation, the Federal Trade Commission (FTC) and 17 states filed a lawsuit against Amazon (NASDAQ: AMZN). FTC Chair Lina Khan added: "Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," enriching itself, raising prices, and degrading service for the tens of millions of American families that shop on Amazon and for the businesses that rely on it. In one example, the FTC said Amazon will bury merchants' listings on its platform if it finds them selling the same item for less elsewhere.
Amazon (NASDAQ: AMZN) has skyrocketed by close to 50% so far this year. On average, analysts surveyed by Refinitiv forecast that Amazon's earnings per share will grow at a whopping 79% annualized rate over the next five years. The tech giant's biggest growth opportunity comes from Amazon Web Services (AWS).
Warren Buffett doesn't invest in what he doesn't understand, and he has readily admitted that he doesn't understand artificial intelligence (AI). Granted, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) only owns a few AI stocks.