Amazon Stock Is Down 45%: 2 Reasons It Could Skyrocket
If you are anything like me, you can't wait for 2022 to end. For the investment community, the year has been a nonstop drop tower. And no index felt the pain more than the growth-focused Nasdaq, down 28% year to date. Amazon (NASDAQ: AMZN) has fared worse by shedding 45% of its value in that timeframe.
Let's explore two reasons the embattled tech giant could bounce back from its near-term challenges and reward patient investors.
By now, most people are familiar with the much-talked-about slowdown in Amazon's e-commerce segment, which is one of many stay-at-home winners facing difficult comps and overexpansion after the boom years in 2020 and 2021. What is less highlighted, however, is the weakness in cloud services, which now make up 15% of Amazon's revenue and practically all of its operating income amid losses in the other reporting segments.
Source Fool.com
