Ocado Group is Becoming a Technology Stock
We thought that only a Fool would consider Amazon an artificial intelligence stock, but there’s no shortage of pundits stating the same. To be fair, it’s rather difficult to place Amazon in any GICS-type industry classification bucket. As the world’s second-largest retailer by sales, Amazon is not considered a pure-play online retailer either. The company is also dabbling in cloud computing, co-branded credit cards, subscription services, and much more.
Amazon is a great example of how tech companies today are morphing into mini-conglomerates with disparate lines of business. That’s the feeling we get when looking at Ocado Group (OCDO:LN), a company that most Americans may not know of, but that will soon be helping America’s second-biggest grocery retailer compete with Amazon and Walmart.
