$Amazon.com(AMZN)$AMZN is rapidlyentering the healthcare sector, which was worth $808 billion in the U.S. alone last year, according to one estimate. I believe that, by 2030, Amazon could get 5%-10% of the total healthcare market by getting into the telehealth and prescription markets.
Add in some overseas healthcare revenue, and we’re talking about a business that could easily generate $100 billion of annual revenue for AMZN within five years, moving the needle a great deal for the company and its shares.
As I’ve noted in previous columns, I believe that Amazon’s new CEO, Andy Jassy, is much “hungrier” for success than his predecessor Jeff Bezos. Consequently, AMZN’s forays into businesses other than the cloud and e-commerce are far more likely to bear fruit in the coming years than in the past decade.
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