The ‘OBSESSION’ that is hurting Amazon, as its stock falls behind Nasdaq

In a stock market captivated by artificial intelligence, Amazon.com Inc. is struggling to keep up. The e-commerce giant’s shares have been significantly trailing the tech-heavy Nasdaq 100 Index this year, according to a recent Bloomberg report. As the report says: In a stock market obsessed with artificial intelligence, Amazon.com is losing ground.

The gap widened sharply after Amazon’s disappointing earnings report on July 31. While the Nasdaq 100 is up 12% for the year, Amazon’s stock has gained just 4.6%, placing it in the bottom half of the index’s performers. The company’s stock is currently trading at a near-record discount to the index—a stark contrast to the premium it commanded for most of the last two decades.