Amazon Did This for the First Time in 5 Years in 2023. Here's Why It Makes the Stock a Buy.
Amazon (NASDAQ: AMZN) spent the past couple of years making moves to fight rising inflation in the near term, but more importantly, these actions should help power strong earnings over time. The e-commerce and cloud computing company cut costs, focused on efficiency across its fulfillment network, and invested in high-growth areas like technology infrastructure.
The efforts have borne fruit over the past few quarters. After reporting its first annual loss in nearly a decade in 2022, Amazon sprung back into action with a $30 billion profit last year.
The list of positive financial metrics is long, but one in particular stands out. In fact, it's something Amazon achieved for the first time in five years, and it makes the stock a buy right now -- even after last year's double-digit share price gain. Let's take a closer look.
Source Fool.com
