Amazon Poised for AI-Fueled Growth Despite Slow Consumer Spending
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A bull market is coming as the S&P 500 rebounds from 2022's historic downturn, though consumer spending remains hesitant.
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Amazon appears late to adopt generative AI but has actually been developing and integrating AI for years in recommendations, fulfillment, AWS cloud services, and Alexa.
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Amazon is now layering generative AI into e-commerce search, product descriptions, review curation, and its Bedrock service on AWS.
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Amazon's leadership in e-commerce and cloud computing gives it a huge built-in customer base for its AI offerings.
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Despite the growth potential from economic recovery and AI, Amazon stock remains cheap at just 2x sales, presenting a great buying opportunity.