Shares of Amazon are down more than 45% this year as the online retailer dealt with slowing growth in its core business.
Amazon needs to get its house in order, according to Needham. Analyst Laura Martin lowered her 2023 estimates for Amazon, while maintaining her fourth quarter 2022 estimates, noting that the tech giant's costs are almost at parity with its revenue. "It is our view that AMZN's economic model has problems created by itself.
7 billion is up 19% year over year, and 3% below her prior forecast. Her earnings per share forecast of $1.85 is also 15% below her previous forecast. Shares of Amazon are down more than 45% this year as the online retailer dealt with slowing growth in its core business amid rising inflation. This week, the stock briefly gave up all of its pandemic gains . Shares closed Wednesday at $86.77.
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