Economic headwinds took a toll on Amazon (NASDAQ: AMZN) last year. Revenue growth slowed as high inflation suppressed both consumer discretionary spending and corporate expenditures, and its profitability deteriorated as rising costs cut into its margins. Those headwinds ultimately caused Amazon to report its first loss since 2014. But the situation may get worse if the U.S. economy slips into a recession, which the Federal Reserve thinks is likely to happen this year.

While Amazon returned to profitability in the first quarter of 2023, the stock is still down by about 44% from its peak. Aside from points within the current Nasdaq Composite bear market, its share price has not been down more sharply at any point in the past decade. That means patient investors have a once-in-a-decade opportunity to buy the FAANG stock.

Here's why that would be a smart move.

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Source Fool.com