For a stock that has crushed the market historically, it’s hard for investors to see Amazon’s shares perform poorly.
It’s not like Amazon (AMZN +0.21%) to trail the overall market. However, with shares up 2% this year (as of Dec. 17), investors should ask what’s going on. Amazon is dealing with competitive forces, regulatory issues, and macro headwinds. But it’s easy to be optimistic.
Here are some of the most important catalysts and factors that investors need to watch as attention turns to 2026.
Image source: Amazon.
Amazon’s AI-related spending is sizable
Amazon is known as a hyperscaler because it’s spending significant sums of money on artificial intelligence (AI) efforts. Management forecasts $125 billion in capital expenditures (capex) this year for things like building data centers and developing chips. That figure will likely increase next year.
Peers like Microsoft and Alphabet are spending ridiculous amounts on expanding their AI infrastructure as well. Amazon must…
https://www.fool.com/investing/2025/12/21/amazon-stock-2026-key-catalysts-investors-watch/
