A great deal more. Seattle-based Amazon is the world's biggest name in e-commerce and the second largest player in the streaming sector.

But the group's other activities include delivery and logistics and Amazon Web Services (AWS).

This mighty subsidiary provides centralised cloud computing services not only to businesses, but also to academic institutions and governments. Amazon also owns Whole Foods, the upmarket supermarket chain.

How did Amazon begin?

In an oft-told story, Amazon had its beginnings almost exactly 30 years ago in the garage of founder and executive chairman Jeff Bezos. But almost from the outset, Amazon has been controversial, despite its mission to be 'the Earth's most customer-centric company'. The focus of criticism is the online behemoth's impact on physical retail and the environmental damage resulting from its deliveries and packaging.

Is retail still driving growth?

Retail may still be the major source of revenue, but AWS already controls about a third of the cloud computing market and its expansion has recently re-accelerated.

As a result, AWS could become larger than the retail division, according to Werner Vogels, Amazon's chief technology officer.

Has the share price ever suffered?

Since the flotation in 1997, the price has soared by 217,256 per cent. However, the shares tumbled during the bursting of the dot com bubble in 2000, but Amazon managed to survive and thrive, unlike many of its peers. In 2022, the shares also fell deeply, amid the belief that the company would not be able to sustain the progress it made during the pandemic.

When did the share price recovery begin?

In 2023, the leading US tech stocks won back investors' affections. Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. They were dubbed the 'Magnificent Seven', thanks to the optimism over the profits to be made from the exploitation of generative AI. This year, the fortunes of the Magnificent Seven have been more mixed: Nvidia is still scaling the heights, while Tesla has suffered a reverse.

Are Amazon shares worth snapping up?

Most analysts rate the share a 'buy'. The average target price is $218, against the current $197. Lately there has been speculation that Amazon could pay a dividend or use spare cash to buy back its shares – so boosting the price.

The cash mountain could reach $100billion this year.

Yet Andy Jassy, Amazon's chief executive, seems reluctant to end the practice of reinvesting in the business, rather than distributing payouts to investors. Chief financial officer Brian Olsavsky sees 'many opportunities' to deploy capital that would generate 'meaningful returns'.