3 Reasons Amazon Stock Is a No-Brainer Buy in 2023
Amazon (NASDAQ: AMZN) is off to a good start in 2023, with its share price up by 14% year to date. While the company's e-commerce and cloud computing segments are still under pressure from ongoing macroeconomic challenges, new business opportunities can help power the next leg of long-term growth.
Let's discuss three reasons Amazon stock could make an excellent long-term investment.
Like many technology-related companies, Amazon struggled significantly in 2022 because of macroeconomic pressures somewhat outside management's control. Inflation hurt the e-commerce business by constricting consumer spending while increasing the cost of doing business. And the cloud computing segment, Amazon Web Services (AWS), had slower growth as clients switched to lower-tier services to save money amid the uncertain economy.
Source Fool.com
