Why Amazon Stock Lost 12% in June
Yahoo Finance ·
Amazon ( AMZN +1.48% ) stock lost 12% in June, according to data provided by S&P Global Market Intelligence . There's a long list of artificial intelligence (AI) concerns that have led to this point, and many of the hyperscalers and other top AI stocks have been dropping of late. The average U.S. shopper knows Amazon as an e-commerce giant. It's part of the fabric of society at this point, with its trucks a regular feature on U.S. roads and highways. However, it has many other growing businesses, in particular Amazon Web Services (AWS), its cloud services provider that houses its AI business. AWS has been on fire, and the AI business is thriving. Amazon has a huge assortment of AI tools that can code with prompts, create AI agents, and whip up marketing campaigns in minutes. AWS is the largest cloud provider in the world, with almost a third of the entire market, and its millions of clients are engaging with AI through its platform. In the 2026 first quarter, for example, its Strands agentic AI tool was downloaded 200% more times than the previous quarter. Users of its Kiro developer tool more than doubled sequentially, and Kiro enterprise customer usage increased almost 10-fold. The platform is also bringing in more sales to AWS, which increased 28% year over year, the fastest pace in 15 quarters.
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