The White House and Jeff Bezos have renewed their spat over Joe Biden’s management of high inflation as the Amazon founder criticised the US president for calling on companies to cut prices at filling stations. Later that day, Bezos tweeted in response that inflation was “far too important a problem for the White House to keep making statements like this”.
Technology stocks have taken it on the chin lately as some investors have left the sector looking for seemingly safer bets. Here's why Amazon (NASDAQ: AMZN) and Nvidia (NASDAQ: NVDA) are two tech stocks perfectly positioned in the AI space. You may think of Amazon as an e-commerce company, but one of the driving forces behind the company's online store is artificial intelligence.
Amazon (NASDAQ: AMZN) and Walt Disney (NYSE: DIS) are two companies that fit into this category. E-commerce is likely the first thing that pops into investors' heads when they hear the word Amazon. The result of this is a price-to-sales multiple of only 2.3 for Amazon, making the stock the cheapest it's been since 2016.