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Jeff Bezos Stepped Down as Amazon CEO 5 Years Ago, and the Stock Has Lagged the S&P 500 Since. Could Amazon's 15.3% Gain on July 31 Mark a Turning Point?
['Jeremy Bowman', 'The Motley Fool', 'August', 'Min Read']
Yahoo Finance
Few companies are as closely associated with their founder as Amazon (NASDAQ: AMZN) is with Jeff Bezos.
Bezos left a lasting imprint on the company, focusing on long-term thinking, customer satisfaction, and a "Day One" mentality.
The stock fell sharply during the 2022 bear market and has struggled to regain ground since then, as its valuation has compressed and its growth rate has moderated.
In other words, the 20% growth rate is likely not sustainable, and the company guided to revenue growth of just 9%-12% in the third quarter.
The stock looks like a good long-term buy as it could finally narrow the gap with the S&P 500.