Amazon tanks premarket on forecast of massive AI capex plans
Shares of Amazon AMZN.O down 9.3% premarket after the company projected a more than 50% surge in capex this year
Co projects $200 billion in capital expenditures in 2026, up from $131 billion in 2025
The top four hyperscalers, Amazon, Microsoft MSFT.O, Alphabet GOOGL.O and Meta META.O, are expected to collectively spend more than $630 billion this year
Co's capex forecast overshadows strong results from its cloud unit, Amazon Web Services, where fourth-quarter sales growth of 24% was the biggest in 13 quarters
Atleast four brokerages trim PT on the stock following results
Sixty-seven of 71 analysts covering the stock rates it a "buy" or "strong buy"; median PT $297.73 - LSEG-compiled data
AMZN rose 5.2% in 2025, is down 3.5% so far this year
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