Amazon Stock: Buy, Sell, or Hold? | The Motley Fool

Believe it or not, Amazon (AMZN 0.96%) stock has only risen about 39% over the past five years, dramatically underperforming the S&P 500‘s 70% gain over that same time frame. And the tech giant is off to a rough start in 2026, with shares down about 9% year to date as of this writing.

This sluggish stock performance comes as the market grapples with the company’s staggering new capital expenditure plans. But is Wall Street missing the bigger picture? When you look under the hood, Amazon’s underlying business remains incredibly strong, generating massive amounts of cash from operations.

Let’s dive into the e-commerce and cloud computing giant’s recent results to see if this pullback is a buying opportunity.

A reaccelerating catalyst

Despite its already massive size, Amazon continues to grow at a rapid clip. In the fourth quarter of 2025, the company’s net sales rose 12% year over year (excluding the impact of foreign exchange rates) to $213.4 billion….