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2 of the best UK and US stocks to buy today

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Here are two of what I consider to be the best UK and US stocks to buy today:

A US online heavyweight

One can’t really talk about e-commerce without mentioning Amazon (NASDAQ: AMZN). The US share was the trailblazer that revealed the huge potential of online shopping. Amazon’s record sales of $386bn (up $100bn year-on-year) during coronavirus-hit 2020 shows the retail giant is still the name to beat when it comes to online retailing.

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I believe the Amazon share price should continue to run and run following recent heady gains as well. The company has a long record of successful innovation in areas such as delivery, improving the customer experience, even creating the Kindle Unlimited e-book subscription service and the Amazon Echo virtual assistant.

The US tech share continues to push the envelope to stay at the top of the tree too. It’s taking more control of its supply chain by building a fleet of planes and vans, for example. It’s also pioneering the rollout of till-less stores as it ramps up its assault on the grocery market.

Of course, past performance is no guarantee of future success. It’s quite possible that some of Amazon’s costly endeavours will fall flat and fail to deliver the brilliant profits growth that some are expecting.

Furthermore, the e-commerce boom of the past 12 months has led retailers across the globe to invest heavily in their own e-tail propositions. And this is likely to continue, multiplying the competitive pressures that Amazon faces going forward.

An Amazon Go Grocery storefront

Still, I think Amazon’s track record and significant clout make it a US share worthy of serious attention today. Even though it trades on a high price-to-earnings (P/E) ratio of 70 times, I consider this to be one of the best stocks to buy right now.

One of the best UK e-tail stocks to buy 

I’d also happily add Boohoo Group (LSE: BOO) to my Stocks and Shares ISA. The so-called fast-fashion segment is growing at a tremendous pace, just like the broader e-tail industry. This UK share then, offers investors the best of both worlds.

Demand for cheap fashion took a knock in 2020 as Covid-19 lockdowns came into force. But the industry is expected to bounce back strongly from this year. Indeed, analysts at ResearchAndMarkets.com reckon the fast-fashion market will be worth $38.2bn by 2023, up from $35.8bn in 2019.

And Boohoo is investing heavily to make the most of this booming market. It’s acquired some of Britain’s best-loved clothing brands in the last 12 months, or so. It’s also taken on more warehousing space in recent weeks to meet soaring demand for its goods.

The Boohoo share price doesn’t look as expensive as that of Amazon on paper. But it still carries a high forward P/E ratio of 36 times. It’s a reading which also leaves it at the mercy of a severe share price slump if trading performances deteriorate for whatever reason.

Despite this, and the rising threat of sustainability awareness to fast-fashion demand over the long term, I’d still buy this UK share for my portfolio.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Amazon. The Motley Fool UK has recommended boohoo group and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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