Reviewing data going back 51 years, in every year that followed a market recovery, the tech-centric index has gained again in a second year by an average of 19%. That gives us good reason to believe the current rally still has legs.
The macroeconomic headwinds of the past couple of years amounted to something of a perfect storm for Amazon. High inflation caused a slowdown in consumer discretionary spending, and online purchases were among the first casualties. This also prompted a commensurate decline in business spending.
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