2 Reasons to Buy Amazon Before 2023 and 1 Reason to Sell
Amazon (NASDAQ: AMZN) is one of the most well-known e-commerce companies on the planet. Investors watched its market value soar to more than $1.8 trillion during the earlier days of the pandemic. And over time, the company has delivered a lot more than groceries or books to your doorstep. It's delivered top-notch earnings growth and share performance.
This year, though, the stock is heading for a 44% decline. Why? Amazon isn't immune to the pressures hurting the entire retail sector. I'm talking about higher inflation and general economic woes. Now, as we head toward 2023, you may be wondering what to do about this beaten-down stock. Let's check out two reasons to buy Amazon -- and one reason to sell.
When we think of Amazon, we may focus on e-commerce. But the company's biggest moneymaker actually is its cloud computing business. That's Amazon Web Services, or AWS. Last year, AWS made up more than 70% of Amazon's total operating income. That's huge.
Source Fool.com