Is Amazon Stock a Buy Now?
Amazon (NASDAQ: AMZN) shares are trending higher thanks to a fresh quarterly update that investors viewed in a positive light. Revenue of $134.4 billion was up 11% year over year, and diluted earnings per share totaled $0.65, compared to a $0.20 loss last year. Both headline figures crushed Wall Street expectations.
The tech giant is experiencing strong momentum across its business right now. But are Amazon shares, which are up 10% the day following the announcement, worth buying right now? Here's what investors need to know about this FAANG stock.
There are two storylines that investors can focus on right now. The first has to do with Amazon posting double-digit revenue growth last quarter. During the first three months of 2023, the business was only able to post sales gains in the single digits. For a company as big as Amazon, it's impressive to see expansion at this pace. This just means that the end markets that it offers products and services in still have sizable expansionary runways.
Source Fool.com
