Amazon Shares Slip as Investors Weigh Sterling Bonds and Heavy Capex

Amazon shares traded near $252 on Wednesday morning, down about $4.54 or 1.77% as investors weighed various factors.

The company's first sterling bond sale and a $220 billion capital budget for 2026 were among the key considerations.

AWS sales were $42.2 billion up 37% from the previous year, with an annualized run rate of $169 billion.

Chief Executive Andy Jassy said AWS has the potential to be a trillion-dollar annual revenue business and that it will not have enough capacity to meet all demand in 2026 and 2027.

The cost of trying is the number that has worn on the stock, with Amazon's operating cash flow swinging to an outflow of $7.6 billion from an inflow of $18.2 billion a year earlier.