Amazon Stock: October Entry Point Beckons with Attractive Valuation

Amazon (AMZN), one of the world's dominant businesses, is an attractive investment opportunity in October. The tech giant has a leadership position in numerous industries and a history of strong growth.

The company's stock currently trades at a price-to-earnings ratio of 20.1, which is close to its lowest multiple of 18.2 reached in late July. This presents investors with a compelling entry point.

Amazon has many growth levers still to draw on, including its online marketplace, which benefits from the ongoing e-commerce secular trend. Digital advertising revenue surged 26% year over year in the second quarter (ended June 30), and Amazon Web Services is registering accelerating top-line growth with impressive profitability.