Amazon's durable e-commerce moat and undervaluation at $255 vs $308 fair value support a long-term buy-and-hold thesis.

The next stock I'm going to highlight as one you can buy and keep almost forever is Amazon. Amazon's strongest competitive advantage , which will be very difficult to replicate , is its fulfillment networks and logistics for its e-commerce business.

The company has spent hundreds of billions of dollars developing this network, learning how effective it is, finding ways to reduce customer service costs , and learning data from how customers buy, how they order , when they order, and so on.

It would be extremely difficult for anyone outside of Walmart to possibly compete against it. Thus, if you are a company with only one major competitor worldwide , that will be a profitable business model in the long run.

Incidentally, Amazon is now working to strengthen its competitive advantage in cloud services after spending hundreds of billions of dollars to develop its AI-enhanced data centers .

It builds proprietary chip technology such as CPUs and GPUs in a very cost-effective way , and this is a new category that competitors will find difficult to replicate.

However, I am more confident about its long-term e-commerce advantages, and the cloud services sector is something that will generate profitable returns in the near term. In the long run, there are even bigger question marks.

It may end up being a profitable business model in the long run, but for now, it is generating substantial profits and great profit margins, and in the long run, it may become another catalyst that drives revenues and profits and maintains its competitive advantages.

Now, if you are interested in the valuation, I have calculated a fair value of $308 for Amazon stock. The current market price is $255.

So, you're not just getting Amazon at a fair price , in fact, you're getting Amazon at a price that's about 20% less than its value. Like Visa, I own Amazon stock in my portfolio, and I am actually interested in adding more Amazon shares and holding them for many more years.