Is It Too Late to Buy Amazon Stock?
Amazon (NASDAQ: AMZN) is having a banner year thus far in 2023, riding the wave of improving economic conditions and the ongoing rebound among technology stocks. Shares of the e-commerce pioneer gained more than 38% so far this year, more than quadruple the 9% gains of the S&P 500. The results -- at least thus far -- are markedly different than its performance in 2022 when the stock lost half its value.
Slowing economic headwinds resulted in an incremental upturn in Amazon's various business interests. The company's better-than-expected first-quarter results showed that, while some concerns remain, the economy may have finally reached a bottom.
What are the implications for investors who sat out Amazon's recent rally? Should they buy now with the expectation of additional gains or avoid the stock because of the economic uncertainty that lingers? Let's take a look.
Source Fool.com
