Amazon Stock "at a Good Price Point" If Investors Can Wait Out Rocky 2023: Analyst

Yahoo Finance2022-12-30

If can you look past what is likely to be a challenging start to 2023 for Amazon (AMZN), the bruised stock is a buy, says EvercoreISI's Mark Mahaney."I think the core thesis on Amazon is well intact,"...

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Tanyl
2022-12-31
Tanyl
Great ariticle, would you like to share it?
- Tanyl:
  Yes
Tanyl
2022-12-31
Tanyl
Set long term buy call on AMZ
NPC69
2022-12-30
NPC69
K
- NPC69:
  K
KLCC
2022-12-30
KLCC
Time to start accumulating!?!? 😆

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It's going to take time for the Amazon ship to right itself, but it will right itself. I think depending on how long-term your horizon is, if you are willing to look out more than a year, I think Amazon's at a good price point here.\"Right now, that is a tall order to ask most investors given how tough Amazon's year has been financially and from a stock price perspective.Shares of the tech giant are now hovering at a fresh 52-week low and are down about 50% year to date, according to Yahoo Finance data. The stock is off by 13% in December alone.That performance rivals the dreadful performances from Amazon's counterparts in the closely followed FAANG (Facebook/Meta, Apple, Amazon, Netflix, Google) complex, with Meta enduring a 64% drop and Netflix plunging 51% year to date.As for its fundamentals, Amazon announced on Oct. 27 it missed third-quarter analyst estimates as top-line growth continued to cool and costs remained elevated. 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