For Amazon (AMZN), it’s just a matter of when, not if, the tech behemoth makes another major acquisition.

After making big waves earlier this year buying Whole Foods, Hedgeye Retail Sector Head Brian McGough is keeping an eye on Amazon’s next big move. He thinks billionaire CEO Jeff Bezos may be looking in multiple areas: retail, technology, as well as additional ways to own “the final mile” to consumers.

“As far as retail space goes—which it needs—it needs a Dick’s (DKS) and a Best Buy (BBY),” McGough says in the video clip above from a recent call with institutional investors. “Is it going to buy models like Best Buy where it has “Geek Squad,” so it can own that ‘final mile?’”

One company it should stay away from is Kohl’s (KSS) says McGough.

“It’s a category that does not need to be bought,” he says. “Kohl’s would have to sell a very relevant product for Amazon to want to buy it. If Amazon were to buy any retailer, it would be someone with a stronger brand that it could actually leverage.”

Watch the video above for more.

The Next Big Acquisition on Amazon’s Radar Screen - investing ideas