#3 - Amazon (NASDAQ:AMZN)
Amazon.com (NASDAQ: AMZN) illustrates that even the best of companies can only do so much to fight a weakening economy. AMZN stock is down 62% in the last 12 months. That makes sense when you consider that the company’s two largest business units (I.e., e-commerce and Amazon Web Services) saw slowing revenue and earnings due to a weakening economy.
To be clear, AMZN stock may have further to fall particularly if the economy tips into a recession in 2023. But the company is well positioned to recover along with the economy. And a key reason for this is the company’s strategic use of AI in all its platforms.
That use of AI will undoubtedly be incorporated into the company’s plans for its recent acquisition of OneMedical. Artificial intelligence is becoming a key part of the healthcare sector.
With all that said, AMZN stock is still quite expensive, with a P/E ratio of over 85x. However, analysts surveyed by MarketBeat give the stock a price target of $145.87, which is 55% higher than its current price.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
Read More - Current Price
- $197.12
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 41 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $235.77 (19.6% Upside)
