I've Been Wrong About Amazon Stock for Almost 10 Years. Here's Why I'm Finally Changing My Mind.

After a decade of avoiding Amazon, the author reversed his stance after recognizing the company's business model has fundamentally shifted. AWS and advertising now generate the majority of profits with software-like margins, while the logistics network serves as a competitive moat rather than a cost burden. The diversified profit streams justify Amazon as a long-term core holding despite ongoing risks from capital spending and regulation.