Is Amazon Still a Millionaire-Maker Stock?
Over the last decades, big tech has been one of America's greatest wealth-creation engines. With shares up by over 240,000% since hitting public markets in 1997, Amazon (NASDAQ: AMZN) is a quintessential example of this trend.
However, past performance doesn't guarantee future results. Let's explore this e-commerce behemoth to determine what the future could have in store.
Under the leadership of CEO Andy Jassy, who took the helm from Jeff Bezos in 2021, Amazon has shifted its strategy from growth at all costs to prioritizing profitability. The company has slashed thousands of white-collar positions, streamlined its fulfillment network, and trimmed less-profitable business ventures. These efforts have transformed its bottom line.
Source Fool.com
