Better E-Commerce Stock to Buy for 2023: Amazon or MercadoLibre?
Both Amazon (NASDAQ: AMZN) and MercadoLibre (NASDAQ: MELI) are known for being e-commerce powerhouses -- the former in North America and the latter in South America. However, each company has something other than e-commerce that is powering its businesses higher.
In 2023, I expect cloud services for Amazon and financial technology (fintech) for MercadoLibre to take center stage and be the biggest influence on shareholder returns.
Here's a simple reason why investors should care more about Amazon Web Services (AWS) than anything else Amazon does: It accounts for the majority of the company's operating income and has for years. And year to date, AWS has accounted for all of Amazon's operating income because e-commerce in North America and in international markets is operating at a loss.
Source Fool.com
