2023-12-05 06:03:00 ET
It hasn't been easy to be an Amazon (NASDAQ: AMZN) investor in recent years, with its stock soaring to record heights amid COVID-19 lockdowns in 2021 and then crashing back down as it faced macroeconomic headwinds the following year.
The company has delivered an impressive comeback in 2023, with its shares up about 75% since Jan. 1 as its e-commerce business returned to profitability and it rallied Wall Street with a burgeoning artificial intelligence (AI) business.
However, Amazon shares remain down around 20% since July 2021, signaling a buying opportunity. The company has introduced several cost-cutting measures over the last year that have strengthened its business. Meanwhile, it is leading the way in multiple high-growth markets.
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1 Growth Stock Down 20% to Buy Right Now