Amazon.com, Inc. (AMZN - Free Report) recently opened a new office in Las Vegas, NV in a bid to expand workforce therein.
The corporate office, which spans 30,000 square foot, is expected to incorporate 125 new positions. This new office will enable Amazon to more than double its corporate workforce in the area.
The new corporate office — which is part of the online giant’s continuous investment in Las Vegas — primarily focuses on the company’s Human Resources organization, among many others.
The latest move underscores its basic strategies of continual expansion and increased focus on fulfilling customer needs.
Amazon.com, Inc. Price and Consensus
The e-commerce giant has been successful in creating multiple job opportunities, while strengthening services all over the world.
The company has a long relationship with Las Vegas, as is evident from the fact that ithas heavily invested in the same over the past several years.
It has invested more than $2.5 billion since 2011. To date, Amazon has created more than 3,500 full-time jobs in Nevada and continues to hire manpower to meet the growing customer demand.
Going forward, it has plans to create more jobs in the city across new corporate offices and customer fulfillment centers.
In a bid to maintain supremacy, Amazon has been expanding on a global basis. To this end, the company is investing more in fulfillment, as well as technology and content. Although increased expenses may hurt Amazon’s bottom line in the near term, we believe these measures are necessary to maintain its dominance in this highly competitive market.
Zacks Rank & Stocks to Consider
Currently, Amazon has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Advantest Corp. (ATEYY - Free Report) , Itron, Inc. (ITRI - Free Report) and AMETEK, Inc. (AME - Free Report) . While Advantest sports a Zacks Rank #1 (Strong Buy), Itron and AMETEK carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Advantest, Itron and AMETEK is currently projected at 15.5%, 25% and 10.9%, respectively.
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