A Bull Market Is Coming: 2 Reasons to Buy Amazon Stock Before It's Too Late
The 2022 bear market was brutal. The Nasdaq Composite Index ended last year down by about 33%. However, it has been recovering nicely in 2023: For the last 12 months, it's now down just 9.6%. Amazon (NASDAQ: AMZN), though, underperformed the index across both of those periods, and even after a modest bounce so far in 2023, its stock is down a whopping 32% over the past 12 months.
While it is difficult to time the market, falling inflation and resilient economic data could represent the light at the end of the tunnel. Let's discuss two reasons Amazon could be a great way to bet on a looming new bull market.
Amazon's fourth-quarter results were lackluster. While revenue grew by 9% year over year to $149.2 billion, net income fell from $14.3 billion to just $278 million -- and this was far from a one-off problem. The tech giant lost money in two out of the four quarters of 2022 because of ongoing challenges in its core e-commerce and cloud computing businesses.
Source Fool.com
