Should You Buy Amazon Stock Despite Its Underperformance Since Jeff Bezos Stepped Down as CEO?
This analysis examines Amazon's stock performance over the five years since Jeff Bezos stepped down as CEO in 2021. Amazon has significantly underperformed the S&P 500 and Nasdaq-100, posting an average annualized return of just 6.8% compared to 11.5% and 14.2% respectively. The article attributes this underperformance to Amazon losing cloud market share to Microsoft and Alphabet (AWS dropped from 33% to 28%), massive AI infrastructure investments that have yet to pay off, and slowing e-commerce growth post-pandemic. However, the article notes potential inflection points: AWS sales growth accelerated to 28% in the latest quarter (best in 15 quarters), the company has a $364 billion contracted backlog, and a recent $100 billion deal with Anthropic. The stock is up 7% year-to-date but still trails the broader market.
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