Amazon Doesn't Pay a Dividend and Constantly Dilutes Shareholders. Here's Why I'd Still Buy and Hold It Forever.

The article argues that Amazon is a compelling long-term buy despite not paying dividends and diluting shareholders through equity compensation. The author contends that Amazon's powerful Prime ecosystem (valued at $1,430 annually vs. $139 cost), expanding rural logistics network, and strategic AI investments through AWS and partnerships with Anthropic create an unassailable competitive moat. Rather than returning cash to shareholders via dividends, Amazon reinvests profits into infrastructure and innovation, positioning it as a compounding growth machine.