Amazon (NASDAQ: AMZN) is arguably one of the most recognizable companies in the world, but that wasn't always the case. Digital shoppers have curtailed spending in the face of historically high inflation and rising interest rates, making 2022 Amazon's first unprofitable year in nearly a decade. The global cloud computing market was valued $484 billion in 2022 but is expected to grow to $1.39 trillion by 2030, a compound annual growth rate of 14.1%, according to Grandview Research.