Amazon shares closed at $204.08 on February 11, declining 1.39%. This move extends a seven-session losing streak from a February 3 price of $238.62.
DA Davidson downgraded the stock from Buy to Neutral and cut its price target from $300 to $175. Analysts cited intensifying AWS competition from Microsoft and Alphabet alongside slower cloud growth relative to peers. Scotiabank also reduced its price target to $275 from $300, citing similar concerns regarding AWS performance.
Jim Cramer expressed confidence in CEO Andy Jassy’s execution but noted significant cash flow challenges. He indicated the company may need to borrow heavily to fund essential AI infrastructure investments.
The broader Nasdaq fell 0.86% on February 11. Technology stocks faced pressure from weaker-than-expected December retail sales and significant revisions to 2025 labor data.