Ignore Amazon, These 2 Stocks Will Be Long-Term Winners
Amazon (NASDAQ: AMZN) has become a favorite on Wall Street in 2023 as improvements in its e-commerce business and an expansion into artificial intelligence (AI) have sent its shares soaring 73% since Jan. 1. The company has made an impressive turnaround this year after posting significant profit losses in its retail segments in 2022.
Amazon is clearly back on a growth path. However, the tech giant still has a long way to go before fully recovering from 2022's economic downturn. Despite solid gains in its quarterly earnings this year, its price-to-earnings ratio (P/E) hovers around 75. The high figure indicates its stock is relatively expensive, with better and cheaper stocks available to invest in e-commerce, cloud computing, and AI.
So ignore Amazon for now. Here are two alternative stocks that could be long-term winners.
Source Fool.com
