Amazon Is About to Do Something It Hasn't Since 2015. Here's What It Means for Investors.
Amazon (NASDAQ: AMZN) has been on a spending spree over the last few years, but it's going to cut its budget in 2023.
The company has increased its capital expenditures every year since 2015. That year it spent $4.6 billion building data centers for Amazon Web Services (AWS) and laying the groundwork of its logistics network. Last year, after some massive pandemic-era increases in spending, the company's capital expenses totaled a whopping $58.3 billion.
Investors will see some relief this year. "For the full year 2023, we expect capital investments to be lower than our $59 billion investment level in 2022," CFO Brian Olsavsky shared on Amazon's first-quarter earnings call. That'll be the first pullback in spending since 2015.
Source Fool.com