• Amazon is spending big to win big.

  • Dutch Bros has significant opportunities with food and expansion.

  • Toast is becoming an invaluable parter to the restaurant industry.

  • 10 stocks we like better than Amazon ›

While the market is near all-time highs, that doesn’t mean you should just sit still. There are still some great growth stocks out there to buy for the long term.

Let’s look at three to buy right now.

Image source: Getty Images.

Amazon (NASDAQ: AMZN) built its dominance in e-commerce by making heavy investments in logistics and fulfillment that others simply weren’t willing to make, and while it wasn’t cheap to do at the time, it allowed the company to deliver products to people’s doors faster than anyone else and turn that into customer loyalty.

Today, the company is looking to push its advantage even further with artificial intelligence (AI) and robotics, which are helping it drive operating leverage in its e-commerce operations.

Amazon already has more than a million robots working inside its fulfillment centers, which are now all coordinated by its DeepFleet AI model. This helps create a unified robotics workforce that can outperform humans in many respects. Some can also handle advanced tasks, such as identifying damaged goods, sorting and picking, and even repairing themselves.

Amazon is also using AI to help determine which warehouses are best to hold certain products and how routes are planned, which is translating into faster deliveries and lower costs. You can already see the payoff, with North American operating income climbing 47% last quarter on just 11% revenue growth.

At the same time, Amazon Web Services (AWS) continues to be a strong growth engine for the company. AWS holds close to 30% of the cloud computing market share, and customers are using its services like Bedrock and SageMaker to build and deploy their own AI models on its infrastructure. Meanwhile, Amazon’s custom chips Trainium and Inferentia help them run workloads more cost-effectively.

Amazon also saw one of its under-the-radar investments get a big win recently when airline JetBlue (NASDAQ: JBLU) chose Amazon’s Kuiper satellite network to provide in-flight Wi-Fi services in 2027. Amazon has more than 100 low-Earth-orbit satellites in its network, and this venture could become another growth driver.

Amazon has always gone through heavy spending cycles, but it consistently comes out stronger, and with AWS growth paired with rising e-commerce efficiency, this is still one of the best long-term stocks to own.

Dutch Bros (NYSE: BROS) has become one of the best growth stories in the restaurant space, continuing to put up strong same-store sales while many competitors have been struggling to drive traffic. Transactions were up nicely last quarter, but the company’s biggest potential comparable-store driver is still ahead: food.

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