Amazon has struggled amid the challenging economic environment, and the near-term outlook remains grim.
The Nasdaq Composite had its best January in more than 20 years this past month, which is a promising sign for investors. The index, primarily made up of technology stocks, was up 10.7% in January, the best return in January since 2001. It was a bit unexpected as many market watchers predicted that there could be another correction in 2023, due to projections that an economic slowdown, and potentially a recession, is possible, given the rapid rise in interest rates.
Market declines over the last year highlight the importance of investing in stocks that will likely soar over five-plus years. Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Warner Bros. Discovery (NASDAQ: WBD) had to contend with a variety of challenges over the last year, but remain no-brainer buys. On Feb. 2, Apple posted its first-quarter 2023 earnings, reporting its first year-over-year sales decline since 2019.