Big Tech Earnings Signal Disappointment Ahead for Amazon
- Microsoft and Alphabet started big tech reports on a sour note
- E-commerce company has long lagged behind the overall market
Amazon.com packages stacked on the sidewalk in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
In both bull market and bear over the past two years, Amazon.com Inc.’s shares have lagged behind those of other megacap companies, and tepid results from some of its biggest peers suggest a long-awaited rebound could remain elusive.
Since the start of 2020, a period that includes the tailwind it saw from the pandemic, Amazon is up 23%, the weakest performance of Wall Street’s four largest companies -- Apple Inc. has more than doubled, and Microsoft Corp. and Alphabet Inc. are up more than 40%.