Amazon Shares Still Look Cheap by This Measure
Shares of Amazon (NASDAQ: AMZN) are already up about 60% year to date, but the stock could still be a buy for your portfolio.
The online retailer and cloud computing giant is starting to reaccelerate growth after things slowed down for the company's operations last year. And after several years of massively ramping up capital expenditures on its fulfillment network and cloud computing infrastructure, 2023 will see a pullback in its spending budget. All that will lead up to a return to strong positive cash flow, which we got a glimpse of in the second quarter.
If you look ahead to the potential cash flow Amazon could generate over the coming year, the shares look inexpensive, even after the run-up in price this year.
Source Fool.com
