Will Amazon Become a $2 Trillion Company in 2023?
Amazon.com (NASDAQ: AMZN) has underperformed the S&P 500 in the recent market downturn, and by a significant margin. There are headwinds affecting both of its main business segments, and the level of uncertainty surrounding things like consumer spending and enterprise cloud spending is very high.
Having said that, Amazon's valuation has been nearly cut in half and sits just above $1 trillion as of this writing. But could Amazon rebound sharply this year and join the very exclusive $2 trillion club?
As my colleague Rich Duprey recently pointed out, Amazon became the first company ever to lose $1 trillion in market value in the current bear market. Even after a recent rebound, Amazon is still about 45% below its peak and just regained its $1 trillion valuation after coming rather close to the $2 trillion milestone a little over a year ago.
Source Fool.com
