Macroeconomic challenges and industry-specific headwinds pushed top e-commerce stocks into heavily discounted territory in 2022. Amazon's (NASDAQ: AMZN) stock has fallen roughly 47% year to date and trades down 52% from its lifetime high. Meanwhile, Latin-American e-commerce leader MercadoLibre's (NASDAQ: MELI) share price has fallen 36% year to date and is down 52% from its peak level.

Both Amazon and MercadoLibre have strengths that potentially set the stage for market-crushing returns, but which of these category-leading online retail companies will go on to deliver better returns for investors? Read on to see why two Motley Fool contributors have differing takes on which stock is the better buy at today's prices. 

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