Amazon Stock Falls 14% in June as AWS Leads AI Spending Plans
AMZN•Amazon shares declined 14% in June while helping lead a nearly 200-point Dow rally on June 29. A Piper Sandler CIO survey found 94% of IT leaders plan to boost AI infrastructure budgets in 2026, with AWS and Azure holding the top spending positions.
1. Stock Performance and Market Impact
Amazon shares slid 14% month-to-date in June even as the stock was among the top gainers driving a nearly 200-point rally in the Dow on June 29. The mixed price action underscores investor caution in Big Tech despite short-term sector recoveries.
2. Piper Sandler CIO Survey Highlights for AWS
The first-half 2026 CIO Pulse Survey showed 94% of IT decision-makers plan to increase AI infrastructure spending next year, with AWS and Microsoft Azure maintaining leadership positions over Google Cloud and Oracle Cloud Infrastructure. IT budgets are projected to grow 4.8% in 2026, and 86% of enterprises have moved beyond pilot AI projects to deploy copilots and autonomous systems.
