Amazon and TJX Companies Outshine SpaceX as Growth Stocks

Two growth stocks that could be better investments than SpaceX are Amazon and TJX Companies. These companies have a more reasonable valuation compared to SpaceX, which has a rich valuation despite being a money-losing company.

Amazon's cloud-computing business, Amazon Web Services (AWS), is growing rapidly and has a competitive advantage due to the vast resources needed to build and maintain data centers. AWS' second-quarter sales grew 36.8% year over year to $42.2 billion, pushing operating income 63.6% higher to $16.6 billion.

TJX Companies is an off-price retailer that buys merchandise from manufacturers at steep discounts and passes savings on to customers. The company's same-store sales have continued to show strong growth, with overall fiscal Q1 comps increasing 6%, and diluted earnings per share increased 29% to $1.19.