Amazon Shares Lag Behind in Stock Market Obsessed With AI

Amazon still gets the majority of sales from e-commerce.
Photographer: Bing Guan/Bloomberg

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By Subrat Patnaik and Ryan Vlastelica

August 19, 2025 at 10:56 AM UTC

Updated on

August 19, 2025 at 1:38 PM UTC

In a stock market obsessed with artificial intelligence, Amazon.com Inc. is losing ground.

The company’s shares have been lagging the Nasdaq 100 Index for most of the year, and the gap has only widened in the two weeks since Amazon’s July 31 earnings disappointment. The tech-heavy benchmark is up 12% this year, more than twice Amazon’s 4.6% gain.