Amazon's (NASDAQ: AMZN) stock price is quietly up more than 30% so far in 2023, and more gains appear likely. Here's why the cloud and e-commerce juggernaut's recent bull run is set to continue -- and perhaps even intensify.

In late April, Chief Financial Officer Brian Olsavsky said that Amazon Web Services' (AWS) revenue growth had slowed to roughly 11% from 16% in the first quarter. The news drove some investors to sell, though Amazon's stock has since recovered its losses. 

Investors are likely beginning to realize that much of the slowdown in AWS' growth rate is due to recession fears, which are driving many businesses to temporarily temper their technology investments. Yet even if we do fall into a recession, the economy will eventually strengthen, and this intense pressure to cut costs will ease.

Continue reading

Source Fool.com