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If Amazon Does This 1 Thing, the Stock Could Soar in 2023

TheMotleyFool

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If Amazon Does This 1 Thing, the Stock Could Soar in 2023: https://g.foolcdn.com/editorial/images/714512/amazon-van.jpg

Amazon (NASDAQ: AMZN) stock has plunged this year, and there's plenty of blame to go around.

Revenue is set to grow by just single digits this year for the first time ever, and profits have also taken a dive as Amazon over-expanded its capacity during the pandemic. Since then, macroeconomic headwinds weighed on both its e-commerce business and its cloud computing division, Amazon Web Services.

However, with the stock down 50% this year, Amazon has become a popular pick to make a comeback in 2023. After all, the tech giant still has a number of competitive advantages, dominant positions in e-commerce and cloud computing, and promising new ideas like Amazon Go.

Source Fool.com

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