Amazon Stock Down But Not Out For 2023
Laycee Kluin speaks with MarketBeat contributor Chris Markoch about the Amazon effect on the economy and what that means for AMZN stock.
Even an e-commerce giant like Amazon hasn’t been spared from the economic slowdown. For some consumers inflation took away their purchasing power. Others switched their discretionary dollars from stuff to experiences. And businesses are cutting back on cloud spending as well. So much for AWS saving the day.
Revenue growth is slowing and earnings are down year-over-year. This is reflected in AMZN stock. But as Markoch points out, none of these threaten Amazon’s long-term business. When the economy turns around, Amazon will be just fine. But should you buy the stock? Give this a watch to find out.
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