Amazon's confident economists are the antidote to predictions of doom

Amazon's confident economists are the antidote to predictions of doom for the tech industry in 2023

Amazon's stock has sunk almost 50% this year. Meta is down 66%. Google's off 37%, while Apple and Microsoft tumbled more than 20% this year. Well over $1 trillion has been wiped off the value of the most powerful tech companies.

Everyone is worried about inflation. Yet Amazon's economists reckon this won't affect the company as much as other businesses. They expect the price of Amazon products to rise less than 3% next year and then drop in 2024. Lower-income consumers have been joining the company's e-commerce platform in recent years. That has helped Amazon grow, but these customers are more sensitive to an economic slowdown, and inflation chips away at more of their disposable income. So growth maybe a little harder to generate for Amazon in 2023.

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