Amazon.com Inc (NASDAQ: AMZN) has been moving steadily sideways for a couple of weeks after a solid rally that added nearly 30% to the stock since April’s low. The consolidation might seem like the momentum is fading, but for seasoned investors, this is often the much-needed pause before the next leg is higher.
The tech giant’s shares are now just under February’s all-time high, while the benchmark S&P 500 index is knocking on the door of its record close. But still, there are signs that some are taking a more cautious approach when it comes to Amazon and its peers. Let's jump in and take a look at why they might be wrong.
