Amazon.com, Inc. (AMZN) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Amazon (AMZN) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. Amazon is a Magnificent Seven megacap spanning AWS cloud, e-commerce, and the world's third-largest digital ad business. AWS and advertising are the high-margin engines that drive the valuation, with custom Trainium and Inferentia silicon and the Anthropic partnership anchoring its AI story. AMZN behaves like a megacap-tech compounder, with retail effectively valued near cost.
AMZN stock price
As of 2026-07-24, Amazon.com, Inc. (AMZN) last closed at $232.11, up 0.3% over the past year. Over the past 52 weeks it has traded between $198.79 and $274.99.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Amazon.com, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Amazon.com, Inc. (AMZN) do?
Amazon is one of the largest companies in the world, operating across three major business lines. Amazon Web Services (AWS) is the dominant global cloud computing provider, generating around $110 billion in annual revenue and most of the company's operating income. The North America and International e-commerce segments include the Amazon online marketplace, Prime membership, and third-party seller services. Advertising has grown into the third-largest digital ad business in the world (after Google and Meta).
The company also owns Amazon Studios (Prime Video, MGM), the Whole Foods grocery chain, hardware lines (Kindle, Echo, Ring), and Project Kuiper (satellite internet). Founded in 1994 by Jeff Bezos in Seattle, where it remains headquartered. Andy Jassy (previously the CEO of AWS) took over as CEO in 2021.
What's driving Amazon.com, Inc. (AMZN)?
1. AWS as the AI infrastructure backbone.
AWS is racing Microsoft Azure and Google Cloud for AI workloads. Amazon has invested heavily in custom silicon (Trainium and Inferentia chips) to reduce dependence on NVIDIA and offer cheaper inference. AWS revenue growth re-accelerated meaningfully through 2025 as enterprise AI consumption ramped.
2. Retail margin expansion.
The North America retail business is expanding margins through better logistics utilization (regionalized fulfillment networks) and lower delivery costs. Amazon is also pushing into faster-moving categories like pharmacy and grocery.
3. Advertising as a high-margin third leg.
Ads are now ~$50B+ in annual revenue and growing fast. Most of this drops to the bottom line because the ad inventory (search results, video, sponsored placements) already exists. Ad revenue helps fund AWS capex without external debt.
4. Project Kuiper and the long-tail bets.
Satellite internet (Kuiper) and Zoox (robotaxi) are long-duration optionality. They drag near-term margins but represent meaningful upside if any one of them works.
What are the risks to Amazon.com, Inc. (AMZN)?
Hyperscaler AI capex is concentrated; if model training demand cools, AWS growth slows. Regulatory pressure on Amazon's third-party marketplace practices (FTC) remains active.
How is Amazon.com, Inc. (AMZN) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Amazon.com, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$650 billion
- Operating margin: ~10% (AWS materially higher; retail much lower)
- Net income (TTM): ~$60 billion
- EPS (TTM): ~$5.50
- P/E (TTM): ~40x
- Price to sales: ~3x
- Dividend yield: None (no dividend)
- Free cash flow: ~$45 billion annually
- AWS revenue: ~$110 billion (annual run rate)
Amazon's headline P/E reflects the aggregate of low-margin retail and high-margin AWS/advertising. The valuation premium is paid for AWS specifically; retail is essentially valued near cost. P/E of 40x is elevated versus the S&P 500 average (~22x), supported by AWS growth re-accelerating.
Which ETFs hold Amazon.com, Inc. (AMZN)?
If you want AMZN exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
| ETF | Name | % in AMZN | Expense ratio | |
|---|---|---|---|---|
| ACWI | iShares MSCI ACWI ETF | 2.27% | 0.32% | |
| SKYY | First Trust Cloud Computing ETF | 3.45% | 0.60% | |
| QLD | ProShares Ultra QQQ | 2.59% | 0.95% | |
| SPLG | SPDR Portfolio S&P 500 ETF | 3.87% | 0.02% | |
| SPXL | Direxion Daily S&P 500 Bull 3X Shares | 2.58% | 0.84% | |
| VOOG | Vanguard S&P 500 Growth ETF | 3.89% | 0.07% | |
| SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | 3.48% | 0.04% | |
| BULZ | MicroSectors Solactive FANG Innovation 3X Leveraged ETNs | 7.13% | 0.95% | |
| SCHX | Schwab U.S. Large-Cap ETF | 3.86% | 0.03% | |
| JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | 4.29% | 0.35% | |
| VOO | Vanguard S&P 500 ETF | ~4.1% | 0.03% | |
| SPY | SPDR S&P 500 ETF Trust | ~3.8% | 0.0945% | |
| QQQ | Invesco QQQ Trust | ~5.4% | 0.20% | |
| VTI | Vanguard Total Stock Market ETF | ~3.4% | 0.03% | |
| VT | Vanguard Total World Stock ETF | ~2.1% | 0.07% | |
| AIQ | Global X Artificial Intelligence & Technology ETF | ~3.0% | 0.68% | |
| QYLD | Global X Nasdaq 100 Covered Call ETF | ~5.5% | 0.61% | |
| ITOT | iShares Core S&P Total US Stock Market ETF | ~3.4% | 0.03% | |
| QQQM | Invesco Nasdaq 100 ETF | ~5.4% | 0.15% | |
| XLY | Consumer Discretionary Select Sector SPDR Fund | ~22.0% | 0.09% | |
| IVV | iShares Core S&P 500 ETF | ~3.8% | 0.03% | |
| VUG | Vanguard Growth ETF | ~6.5% | 0.04% | |
| SCHG | Schwab US Large-Cap Growth ETF | ~6.5% | 0.04% | |
| MGK | Vanguard Mega Cap Growth ETF | ~7.0% | 0.07% | |
| JEPI | JPMorgan Equity Premium Income ETF | ~2% | ~0.35% | |
| AMZY | YieldMax AMZN Option Income Strategy ETF | synthetic exposure via options | 1.01% | |
| ONEQ | Fidelity Nasdaq Composite Index ETF | approximately 5.5% | 0.21% | |
| SCHB | Schwab U.S. Broad Market ETF | ~3.2% | 0.03% | |
| SPLG | SPDR Portfolio S&P 500 ETF | 3.9% | 0.02% | |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 3.6% | 0.04% | |
| VOOV | Vanguard S&P 500 Value ETF | 3.9% | 0.07% | |
| MAGS | Roundhill Magnificent Seven ETF | ~14% | 0.29% | |
| SPYI | NEOS S&P 500 High Income ETF | ~4% | 0.68% | |
| ACWI | iShares MSCI ACWI ETF | ~2.5% | 0.32% | |
| ARKX | ARK Space Exploration & Innovation ETF | ~4.2% | 0.75% | |
| BBUS | JPMorgan BetaBuilders U.S. Equity ETF | ~3.7% | 0.02% | |
| IVE | iShares S&P 500 Value ETF | ~3.9% | 0.18% | |
| IWD | iShares Russell 1000 Value ETF | ~1.9% | 0.18% | |
| JGRO | JPMorgan Active Growth ETF | ~3.3% | 0.44% | |
| QQQI | NEOS Nasdaq-100 High Income ETF | ~4.1% | 0.68% | |
| SKYY | First Trust Cloud Computing ETF | ~3.5% | 0.60% | |
| SPXL | Direxion Daily S&P 500 Bull 3X Shares | ~4% | ~0.90% | |
| TPAY | Roundhill S&P 500 Target 10 Managed Distribution ETF | ~4% | 0.49% | |
| WQTM | WisdomTree Quantum Computing Fund | ~2.7% | 0.45% | |
| XYLD | Global X S&P 500 Covered Call ETF | ~4% | 0.60% |
What themes does Amazon.com, Inc. (AMZN) fit?
These are the investment theses AMZN naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
AI infrastructure
AWS is the largest cloud platform; Trainium and Inferentia plus Anthropic partnership make Amazon a top-tier AI compute provider.
Consumer discretionary
Largest US e-commerce platform; discretionary spending captured at scale via Prime.
AI agents
AWS Bedrock agents and the Anthropic partnership give Amazon a cloud-distributed path to agent workloads.
Humanoid robotics
Amazon is among the largest deployers of warehouse robotics and is testing humanoid units in its fulfillment network.
Cloud computing
AWS is the largest cloud infrastructure provider and the original hyperscaler, with a broad platform-services catalog.
Who competes with Amazon.com, Inc. (AMZN)?
Cloud infrastructure
Microsoft Azure (the largest competitor by AI workload share), Google Cloud Platform, Oracle Cloud Infrastructure (winning AI training deals from OpenAI, others). All four are in an aggressive capex race.
E-commerce
Walmart (the largest US retailer overall), Shopify (powers many independent storefronts), Etsy and eBay (in specific niches), Temu and Shein (in low-price imported goods).
Digital advertising
Google (Search and YouTube), Meta (Facebook and Instagram). Amazon is the clear third-place player in US digital ads but is gaining share from both.
What stocks are similar to Amazon.com, Inc. (AMZN)?
Other names that show up alongside AMZN in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.
Also fits AI infrastructure. The defining AI accelerator. CUDA ecosystem is the picks-and-shovels play; held in every AI infrastructure basket.
Also fits AI infrastructure. Azure is the largest AI compute platform by training capacity (OpenAI partner). Copilot monetizes the model layer.
Also fits AI infrastructure. Custom TPU silicon, Gemini frontier models, plus the Google Cloud AI platform. Vertically integrated AI infra.
Also fits AI infrastructure. OCI has won meaningful AI training workloads (OpenAI, xAI). Smaller share of cloud but disproportionate AI exposure.
How to invest in Amazon.com, Inc. (AMZN)
There are three common ways to get AMZN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (ACWI, SKYY, QLD), which spreads the position across many companies. Or build it into a focused thematic basket, so AMZN sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where AMZN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Amazon.com, Inc. (AMZN)
Amazon (AMZN) is a multi-engine megacap where high-margin AWS and advertising carry the value and retail provides scale. In a portfolio it behaves as a large-cap AI-infrastructure and consumer-platform anchor, lower-volatility than a single-segment bet but tied to hyperscaler AI capex durability, with no dividend and free cash flow reinvested into cloud and long-tail bets like Kuiper.
More on Amazon.com, Inc. (AMZN)
Whether AMZN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AMZN a buy?, and where the stock could go from here in the AMZN stock forecast.
For income investors, whether AMZN pays a dividend and how the payout looks is covered in does AMZN pay a dividend? And to weigh AMZN against a peer, read the full side-by-side comparisons: AMZN vs NVDA and AMZN vs MSFT.
Build a basket around AMZN with Walnut
Use Amazon.com, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is Amazon's ticker symbol?
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AMZN, listed on Nasdaq. Officially Amazon.com, Inc. Trades during US market hours, available at every major US brokerage. Headquartered in Seattle, Washington and founded in 1994 by Jeff Bezos.
Who are Amazon's main competitors?
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By segment. Cloud (AWS): Microsoft Azure, Google Cloud, Oracle Cloud. E-commerce: Walmart, Shopify, Temu, Shein. Advertising: Google, Meta. Streaming: Netflix, Disney+, YouTube. Amazon is the only company that competes across all of these simultaneously.
What is Amazon's P/E ratio?
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Approximately 40x trailing twelve months as of early 2026. Higher than the S&P 500 average (~22x) because the valuation is largely driven by AWS and advertising, both of which have much higher margins than the retail business that dominates revenue.
What does Amazon do?
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Amazon operates three major businesses. AWS is the largest global cloud computing provider at ~$110B annual revenue. E-commerce is the Amazon marketplace, Prime, and third-party sellers. Digital advertising is the third-largest ad business in the world. It also owns Whole Foods, MGM, hardware lines (Kindle, Echo, Ring), and is building Project Kuiper satellite internet and Zoox robotaxis.
Who owns the most Amazon stock?
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Jeff Bezos (founder) personally owns approximately 9% of shares outstanding, by far the largest individual holding. Major institutional holders include Vanguard (~7%), BlackRock (~6%), and State Street (~3%). The Bezos stake has been gradually reduced through systematic selling and charitable transfers to fund Blue Origin and the Bezos Earth Fund.
Is Amazon an AI stock?
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Yes. AWS is the largest provider of AI training and inference compute globally. Amazon has been investing heavily in custom AI silicon (Trainium for training, Inferentia for inference) and is the primary cloud and equity partner for Anthropic (the Claude model maker). AI capex is one of the largest categories in Amazon's overall capital spending.
Which ETFs have the most Amazon exposure?
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XLY (Consumer Discretionary Select Sector SPDR) is the most concentrated at ~22% Amazon. QQQ holds Amazon at ~5.4%. VOO holds it at ~3.8%. VTI at ~3.4%. VGT and XLK do not hold Amazon because GICS classifies it as Consumer Discretionary, not Technology.
Which thematic baskets typically include Amazon?
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Two themes on Walnut. AI infrastructure (Amazon is the largest cloud platform and a major custom-silicon player), and Consumer Discretionary (AMZN is the dominant US e-commerce platform). Most Walnut baskets that include AMZN are AI infrastructure baskets concentrating on hyperscale cloud exposure.
How much of XLY is Amazon?
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Approximately 22% as of early 2026. Amazon is by far the largest single holding in XLY, with Tesla second at ~14.5%. The two combined are roughly 36% of the fund, which makes XLY heavily a bet on Amazon plus Tesla rather than diversified consumer discretionary.
How much of VOO is Amazon?
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Approximately 3.8% as of early 2026. Amazon is the fourth-largest VOO holding, behind Microsoft, Apple, and NVIDIA. In QQQ (Nasdaq-100), Amazon is approximately 5.4%, the fourth or fifth largest depending on the rebalance period.
Is Amazon a Mag 7 stock?
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Yes. The Magnificent Seven are Apple, Microsoft, Alphabet, Amazon, Meta, NVIDIA, and Tesla. Amazon has been one of the Mag 7 since the term was coined in 2023. The Mag 7 collectively account for over 30% of S&P 500 market cap.
What is Amazon's market cap?
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Approximately $2.5 trillion as of early 2026. Amazon is one of five US public companies with market cap above $2 trillion (along with Microsoft, Apple, NVIDIA, and Alphabet). Market cap has grown substantially since the 2022 lows on AWS reacceleration and advertising growth.
Does Amazon pay a dividend?
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No. Amazon has never paid a dividend and has stated it prefers to reinvest cash flow into the business and into share buybacks. Free cash flow is approximately $45 billion annually as of early 2026. A future dividend has been speculated about but not announced.
Should I own Amazon directly or through an ETF?
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Both approaches are common. Direct ownership gives you concentrated Amazon exposure (1 share = 1 vote, full participation in price moves). ETF ownership through QQQ or XLY gives you Amazon as part of a diversified bundle. Many Walnut users hold both: a direct AMZN position for conviction-level exposure plus a broad market ETF for diversification. The right mix depends on your time horizon and risk tolerance.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Amazon.com, Inc.'s investor relations page or your broker before making investment decisions.