Amazon and TJX Companies Outshine SpaceX in Growth Stock Rankings

Amazon and TJX Companies are two growth stocks that investors may consider over SpaceX. The valuation of Elon Musk's company is rich, making it a less appealing investment option for many.

One alternative is Amazon, which has a fast-growing cloud computing business called Amazon Web Services (AWS). AWS' sales grew 36.8% year-over-year to $42.2 billion in the second quarter, with operating income increasing 63.6% to $16.6 billion.

AWS has a competitive advantage due to its massive size and resources, making it difficult for new entrants to enter the space. With a market share of 28%, AWS is one of the biggest players in cloud computing.

Another growth stock is TJX Companies, which sells discounted apparel and home goods through brands like TJ Maxx, Marshalls, and HomeGoods. The company's same-store sales have continued to show strong growth, increasing by 6% in fiscal Q1. Diluted earnings per share increased 29% to $1.19.