US Stock Market Move | AI capex spree spooks market: Amazon.com, Inc. (AMZN.US) opens sharply lower, down about 5%

On Friday, Amazon.com, Inc. (AMZN.US) opened sharply lower and was down about 5% as of publication, falling more than 18% from its August high, with a market capitalization of $2.52 trillion. On the news front, Amazon.com, Inc. reported third-quarter results for the period ended September 30, 2026: net sales rose 12% year over year to $201.94 billion, slightly below analysts' expectation of about $202.26 billion; diluted earnings per share (EPS) fell about 3.1% year over year to $1.89, while analysts had expected a slight 0.5% increase to $1.96; and operating income rose 61.5% year over year to $28.08 billion, more than 7% above market expectations, with the operating margin rising to 13.9%, the highest level in the company's history. The third-quarter report showed clear two-sidedness: core operating profit was stronger than expected and the closely watched cloud computing business AWS maintained rapid growth, but growth in the core e-commerce business was lackluster, total revenue and EPS both fell short of Wall Street expectations, and AI-related capital expenditure remained at a high level, heightening market concerns about free cash flow and the investment return cycle.