Amazon Plunges 20% on Earnings Miss -- Is Amazon Stock a Buy Now?

By Eric Cuka – Oct 27, 2022 at 6:47PM

NASDAQ: AMZN

Amazon

Market Cap

$1,907B

Today's Change

(0.08%) $0.14

Current Price

$183.76

Price as of April 16, 2024, 3:16 p.m. ET

Amazon has been trading sideways to lower for two years. Is there more pain ahead, or is Amazon stock a buy now?

Amazon (AMZN 0.08%) reported earnings on Oct. 27 after the closing bell, and shares were down over 20% on the news. The company reported a miss on revenue and provided lower guidance. Do the shares have more pain ahead, or is Amazon stock a buy now?

Please watch below for Amazon stock analysis.

*Stock prices used in the video were during the trading day of Oct. 27, 2022. The video was published on Oct. 27, 2022.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Eric Cuka has positions in Amazon, CrowdStrike Holdings, Inc., Datadog, ServiceNow, Inc., and Snap Inc. The Motley Fool has positions in and recommends Amazon, CrowdStrike Holdings, Inc., Datadog, and ServiceNow, Inc. The Motley Fool has a disclosure policy. Eric Cuka is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.