Is Amazon Stock a Buy?

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2023-09-06 14:27:45  • 5 mins

Amazon's (NASDAQ: AMZN) stock has been on fire lately. Year to date, it has surged by 61% to $138 as investors gain more confidence in Amazon's prospects, thanks to its better-than-expected performance.

But for those who have not bought the stock, is it too late to consider it now? Let's explore this further in this article.

Image source: Getty Images.

A quick review of Amazon's recent performance

2022 wasn't a great year for e-commerce companies. The reopening of global economies post-COVID-19 lockdowns and a generally weak economy negatively impacted the prospects of e-commerce players, including Amazon.

Investors were largely pessimistic, which explained the more than 50% decline in Amazon's stock in 2022 from its peak in 2021. Yet, Amazon's latest performance provided hope that investors could have been overly pessimistic about the company.

Here are some important figures to consider. Revenue grew 11%, with growth coming in strong across all markets. Operating profit more than doubled to $7.7 billion amid top-line growth and various cost-cutting activities. Operating cash flow surged 74% to $62 billion for the trailing 12 months as a result, free cash flow improved to an inflow of $8 billion for the trailing 12 months, compared to an outflow of $24 billion.

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