Shares of Amazon.com Inc (NASDAQ: AMZN) have traded above $270 for several sessions in a row for the first time. They’ve gained more than 35% since the end of March with a move that has taken the stock to fresh all-time highs and marks a sharp turnaround from the concerns that dominated after February’s earnings report.
Back then, investors were spooked by the scale of Amazon’s capital expenditure plans. The worry was simple - even if the emergence of artificial intelligence (AI) was a huge opportunity, how much cash would Amazon need to burn before that opportunity started showing up in the numbers?
