Amazon, Down Almost 50% This Year, Is the Top Big Tech Stock to Buy for 2023
In 2021, it seemed like nothing could stop the upward trajectory of big technology stocks like Amazon (NASDAQ: AMZN). The economy was booming as COVID-19 vaccines allowed pandemic-driven social distancing measures to be relaxed, and the digital advertising market hit new heights, leaving investors optimistic about internet stocks.
But then, 2022 happened. High inflation, rising interest rates, and geopolitical turmoil have turned investors from extreme optimists to pessimists -- particularly when it comes to technology stocks like Amazon, which has steadily fallen 48% year to date.
But you shouldn't let the market's short-term pessimism keep you from investing for the long term. Here's why beaten-down Amazon is the best big tech stock to buy for 2023 and beyond.
Source Fool.com
