Down 50%, Is Amazon Stock a Buy in 2023?
It's finally 2023 -- an end to a horrific year for Amazon (NASDAQ: AMZN), which saw its share price collapse by 50% in 2022. While the company will face near-term headwinds in its e-commerce business, the long-term future looks bright.
With that said, let's discuss why investors might want to bet on the beaten-down tech giant in 2023.
Like many e-commerce companies, Amazon surged during the COVID-19 pandemic when lockdowns and movement restrictions led to an online shopping boom. But as the crisis wound down, Amazon found that it had over-expanded in anticipation of growth that wouldn't materialize. Further challenges like inflation also hurt its operations by eroding customer spending power while increasing the cost of doing business.
Source Fool.com
