3 Reasons to Buy Amazon Stock Like There's No Tomorrow
Amazon (NASDAQ: AMZN) has become a stock to watch, pulling off an impressive turnaround after the tech sector downturn that affected a raft of growth stocks in 2022. The company's share price plunged 50% during that challenging year, but has more than recovered with a 123% gain since Jan. 1, 2023. From the start of 2022 to today, it's now up by about 17%.
The retail giant has benefited from a series of cost-cutting measures and easing inflation. Amazon's growing cash reserves have allowed it to invest heavily in expanding industries like artificial intelligence (AI) and digital advertising.
The company is on a promising growth path that makes its stock too good to pass up right now. Meanwhile, its price-to-sales ratio of about 3 indicates it remains a bargain compared to some of its competitors.
Source Fool.com
