Tech giants soared in the aftermath of Covid-19. Amazon.com investors just saw their post-Covid gains erased. Mega-caps have been battered by rising inflation, the Federal Reserve's interest-rate increases, and a slowing economy. Shares of Amazon are down nearly 3% Monday, on pace for their lowest close since March 2020. + A [weak outlook](https://www.wsj.com/articles/amazon-amzn-q3-earnings-report-2022-11666832188) has pulled the stock down more than 23% since its third-quarter earnings at the Read More...
Motley Fool
Amazon, Down Almost 50% This Year, Is the Top Big Tech Stock to Buy for 2023
In 2021, it seemed like nothing could stop the upward trajectory of big technology stocks like Amazon (NASDAQ: AMZN). The economy was booming as COVID-19 vaccines allowed pandemic-driven social distancing measures to be relaxed, and the digital advertising market hit new heights, leaving investors optimistic about internet stocks. High inflation, rising interest rates, and geopolitical turmoil have turned investors from extreme optimists to pessimists — particularly when it comes to technology stocks like Amazon, which has steadily fallen 48% year to date.
