Amazon (NASDAQ: AMZN), the world’s largest e-commerce and cloud company by annual revenue, has crushed many smaller companies over the past decade. Its online marketplaces pulled shoppers away from brick-and-mortar stores, while AWS (Amazon Web Services) locked organizations into its ever-expanding portfolio of cloud services.
AWS’ profits also subsidized the growth of Amazon’s lower-margin e-commerce businesses, which powered a positive growth cycle for Amazon but pressured its smaller competitors in the cloud and retail markets.
That business model makes Amazon a formidable beast — but there are still plenty of companies the tech giant can’t crush. Let’s take a closer look at three of those resilient rivals — Etsy (NASDAQ: ETSY), Shopify (NYSE: SHOP), and Microsoft (NASDAQ: MSFT) — and why they could be worth investing in.