Shares of e-commerce giant Amazon (NASDAQ:AMZN) jumped more than 12% yesterday following the news that CEO Andrew Jassy will oversee the company's cost-cutting initiatives. Further, the stock price jump was aided by milder inflation (CPI) numbers for October. Given the long-term growth potential, the current valuation levels present a good buying opportunity. Yesterday, Jassy indicated that the company may consider trimming down or suspending certain unprofitable businesses. Amazon’s Alexa business, with over 10,000 employees, is also undergoing evaluation. Let’s take a deeper look at Amazon's stock and its long-term potential to arrive at the right investment decision.
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