Tech giant Amazon.com (NASDAQ: AMZN) has been one of the more frustrating large-cap names to watch and to own in recent months. Shares of the Seattle-based company are currently trading around $210, roughly the same level as in November 2024, meaning the stock has effectively gone nowhere in 18 months despite a strong broader market backdrop. For context, the S&P 500 has gained 10% over the same period, and that’s including the index's recent selloff.
Expectations of a marked turnaround in 2026 had been high for the Magnificent Seven fixture. But instead, the stock's underperformance has persisted, with AMZN dropping as much as 20% through its February earnings and remaining down in the two months since. More recently, the war in Iran has added fresh headwinds, pushing oil higher and reigniting concerns around inflation, consumer spending, and tech valuations.
