Amazon, the e-commerce giant, had a challenging year in 2022 as its operating income dipped below zero. However, the bright spot in their portfolio was Amazon Web Services (AWS), the cloud computing platform, which delivered a robust operating income of $6.5 billion. This impressive performance occurred during a period when the US inflation rate hit its peak at 8.2%. Fast forward to June 2023, and we've witnessed a significant drop in the annual inflation rate to a mere 3%. This decrease in inflation has been a boon for Amazon, as its operating income has rebounded, reaching $3.2 billion in Q2 2023. AWS, though slightly down by 21.5% compared to Q2 2022, still boasts a substantial operating income of $5.3 billion.
Are You Buying AMZN Stock?
Yes
No