Shares of e-commerce and cloud-computing juggernaut Amazon (NASDAQ: AMZN) have crashed more than 50% since peaking in late 2021. Amazon's market capitalization has tumbled below $1 trillion, and while revenue continues to grow, profit and free cash flow have fallen off a cliff. For the trailing-12-month period, even the most optimistic measure of free cash flow that Amazon reports was a loss of $19.7 billion.

While some might be betting on a comeback for the stock, there are a few reasons to believe that it will continue to come under pressure in 2023. While it's hard to say whether Amazon is a good long-term investment, it looks pretty dicey in the short term. Here's why.

The retail side of Amazon -- which includes direct sales, the third-party seller business, Prime, advertising, and essentially everything that's not Amazon Web Services (AWS) -- is having some issues.

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Source Fool.com