3 Things About Amazon That Smart Investors Know
Amazon (NASDAQ: AMZN) and its investors have had a troubling couple of years, with 2022's economic downturn leading to declines in its e-commerce business and slowing cloud growth. The challenges dragged down its stock by about 50% last year, with its shares still down around 18% year over year.
On April 27, the company released its first quarter of 2023 results, reporting a 9.5% rise in revenue of $127 billion and beating analyst expectations by $2.8 billion. The growth was driven mainly by a gradually recovering e-commerce business. However, investors remain wary of decreasing growth for the company's Amazon Web Services (AWS) cloud platform.
Despite recent hurdles, Amazon's position as a leader in e-commerce and cloud computing gives it a promising long-term outlook. As a result, now is an excellent time to learn more about this tech giant while its shares are essentially on sale.
Source Fool.com
