Amazon (AMZN) Plunge 8% as AI Capital Spend Sentiment Shifts; Dow Weakest Friday

Friday, February 6, 2026: Amazon (AMZN) fell 8% to become the Dow’s weakest performer as investors reacted to its $200 billion annual capital expenditure plan for this year, with most funds expected to flow to AWS and AI expansion. The tech giant’s shares are now down 12% YTD, their lowest level since May 2025. Following the report, major analysts trimmed price targets despite maintaining bullish views, citing concerns over whether AI investments will justify the spending and potential near-term profit pressure. The move mirrors declines seen at Microsoft and Alphabet after similar announcements, with many expecting more tangible returns before supporting the stocks.