The current market environment has been brutal for even the best growth stocks. Investors have many concerns, including the escalating conflict in Europe, disruptions to global supply chains and the possibility that the Federal Reserve’s plan to curb inflation will push the economy into recession.

Against this background Amazon (AMZN -2.74%) has no shortage of challenges. The war in Ukraine is driving up fuel prices. Supply chain bottlenecks make it difficult and expensive to procure products. And rising inflation is causing consumers to rein in their discretionary spending.

Image source: Getty Images.

Taken together, these and other issues caused Amazon’s first-quarter e-commerce sales to decline 3% year over year while costs rose significantly. Investors responded by selling the shares. Amazon’s shares ended Friday’s trading session down 14% and near its 52-week low.

Could this panic-driven sell-off be the buying opportunity…

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