1 Green Flag for Amazon Stock in 2023, and 1 Red Flag
Macroeconomic headwinds in 2022 led to a sell-off that affected countless tech stocks, with Amazon (NASDAQ: AMZN) shares plunging nearly 50% throughout the year. The company suffered from significant declines in its e-commerce business and foreign currency fluctuations.
Despite the challenging year, Amazon remains a dominating force in the tech industry, with the world's fifth-largest market cap at $1.05 trillion. The company may not be entirely out of the woods in the e-commerce arena, but its strong positions in sectors like cloud computing will likely keep it growing for decades.
However, before adding this tech giant to your portfolio, it's a good idea to understand its pros and cons. Here is one green flag and one red flag for Amazon stock in 2023.
Source Fool.com
