CEO Andy Jassy said in February on thefourth-quarter 2025 earnings call. The spending has really depleted Amazon Amazon is hovering near a 52-week high, up about 14% year-to-date to $262 per share. Walmart stock is trading near its lowest point this year at around $115 per share, up about 3% year to date. Why Amazon is cheap The market is starting to come around on Amazon, as evidenced by its approximately 13% jump since it released second-quarter earnings on July 30. It seemed to justify Amazonʻs massive AI spending spree, as the company anticipates spending a whopping $200 billion in capital expenditures (capex) in 2026, up from $131.