A Bull Market Is Coming: 1 Unstoppable Growth Stock to Buy and Hold
The stock market continues to perform well this year despite fears of a coming recession. While this could be the early innings of a new bull market, especially following last year's downturn, nobody can tell for sure. However, a sustained bull run will come eventually. That is one thing we can bet the farm on. And there are plenty of quality stocks to consider buying before that happens. One that looks particularly attractive is Amazon (NASDAQ: AMZN). Let's consider why the tech juggernaut remains such an excellent option for investors.
Amazon faced a barrage of headwinds last year, culminating in the first annual net loss it's had since 2014. Consumer activity declined, leading to lower sales for its e-commerce business than it would have typically generated. Businesses strapped for capital reduced investment in cloud computing, and expenses and costs, partly related to inflation, were up.
That's a bad combination for any company. But Amazon is turning over a new leaf this year. It has gone through several cost-cutting initiatives, including layoffs, to decrease costs. In the first quarter, the company's revenue increased by 9% year over year to $127.4 billion. Amazon's net loss of $3.8 billion in Q1 2022 swung to a net income of $3.2 billion this time around.
Source Fool.com
