Is Amazon a No-Brainer Stock to Own in 2023?
Amazon (NASDAQ: AMZN) is limping into 2023, and it's probably eager to turn the page on a new chapter.
The tech giant is on track for one of the slowest-growth years in its history. It's lost nearly $8 billion in its e-commerce-focused businesses through the first three quarters of 2022, and it announced the first major layoffs in the company's history, including 10,000 from its corporate workforce. Among the divisions especially targeted is Alexa, because Amazon is reportedly losing $10 billion a year on this voice-activated technology.
In other words, Amazon is in a strangely defensive position after years of gobbling up market share in industries as diverse as e-commerce, books, cloud computing, video streaming, and digital advertising.
Source Fool.com
