"We think healthcare is high on the list of experiences that need reinvention," was Amazon's take on the deal. Amazon has gotten into the healthcare field in various ways over the past few years, including its pharmacy division and its internal healthcare business, which it's spinning out into a consumer-facing business through One Medical. One Medical is a small piece of the Amazon pie so far, but it presents a huge opportunity. It came with a huge content library that adds tremendous value to Amazon's own studios and content. Owning MGM allows Amazon's streaming business to compete with the large players like Netflix and Walt Disney as competition becomes fierce and streamers struggle with profitability and saturation.
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Two of its recent high-profile acquisitions were MGM Studios, a major movie production company, and 1Life Healthcare, a telehealth service doing business as One Medical. It has completed four acquisitions over the past three years. It began scooping up other companies way back when it was just getting started, expanding its business by leaps and bounds, and that continues through today. It's harnessing its vast opportunitiesĪmazon is an acquisitions master. Let's see what investors are excited about and why now is a great time to buy Amazon stock. But it's far outdoing the market so far in 2023, up 65% year to date.
Amazon (NASDAQ: AMZN) was highly impacted by changing economic trends last year, and its stock slumped 50%, much worse than the market's nearly 20% drop.
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