Amazon and Apple Positioned for Comebacks in 2023 After Weathering 2022 Storm
• Amazon's business struggled in 2022 due to economic conditions, but made an impressive turnaround in 2023 by bringing retail segments back to profitability and expanding in AI.
• Apple stock has a reputation for resilience and reliability, outperforming tech competitors and the Nasdaq in 2022. It remains dominant in consumer tech.
• Both Amazon and Apple are smart buys during market sell-offs given their dominance in their markets and expansion into booming areas like AI.
• Apple has gained over 340% in the last 5 years and its move into AI positions it well for future growth.
• Amazon undertook cost-cutting measures in 2022 showing management's ability to navigate challenges; it entered 2023 in better financial shape.