Should You Buy Amazon Stock Despite Underperformance Since Bezos Stepped Down?
This article analyzes Amazon's stock performance over the five years since Jeff Bezos stepped down as CEO in 2021, noting that Amazon has badly underperformed the S&P 500 and Nasdaq-100 with an average annualized return of just 6.8%. The underperformance is attributed to losing cloud market share to Microsoft and Alphabet, massive AI infrastructure investments that have yet to pay off, and slowing e-commerce growth post-pandemic. However, the article highlights potential inflection points: AWS revenue growth accelerated to 28% in the last quarter, the company has a $364 billion contracted backlog (excluding a recent $100 billion Anthropic deal), and CEO Andy Jassy emphasizes that heavy AI spending is necessary for future growth. The piece weighs whether the next five years could be better for Amazon investors than the last five.
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