Amazon Shares Get Back to Their Winning Ways
- Stock is outpacing megacap peers since Nasdaq 100 bottomed
- Amazon is keeping costs in check, bolstering stock via buyback
Amazon is the best-performing stock among its megacap peers.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Amazon.com Inc. shares are back in a familiar role of outperforming after an ugly first half of 2022, even as investors brace for a slowdown in growth at the e-commerce and cloud computing giant.
Amazon is the best-performing stock among its megacap peers since the Nasdaq 100 Index bottomed nearly three months ago, in part because it’s shown the market that it’s taking steps to curb expenses. Amazon has gained 30% since June 16, compared with a gain of 14% for the tech-heavy benchmark and a paltry 9% for Microsoft Corp. and 5% for Alphabet Inc. Only Apple Inc. comes close with a 23% advance.