By Nate Wolf

Amazon.com's rough February continued Wednesday with shares of the technology and retailing giant on track for its worst seven-day stretch in more than three years.

The stock fell 1.7% to $203.55 on Wednesday, extending its losing streak to seven consecutive sessions. The stock's 17% decline over that period marks its worst seven-day stretch since November 2022, according to Dow Jones Market Data. Amazon was on pace Wednesday to lose $408 million in market capitalization since the losing streak began.

Shares dropped 5.6% last Friday after Amazon missed earnings quarterly estimates and forecast $200 billion in capital spending in 2026, well above the $146.6 million Wall Street had expected. Investors were already cashing out ahead of the earnings print, though, and that slide has continued.

The stock was in decent shape heading into February. Shares rose last month when Reuters reported Amazon would conduct another round of mass job cuts. Investors also seemed unperturbed by the company's decision to close dozens of Amazon Fresh and Amazon Go stores to focus on expanding same-day grocery delivery and adding to its Whole Foods Market operations.

But this month hasn't been kind to tech companies, including artificial-intelligence hyperscalers like Amazon. The Roundhill Magnificent Seven exchange-traded fund has fallen j4.4% in February.

The broader rally at the end of last week "masked a significant market leadership shift and broadening that is occurring within markets," Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company, wrote in a commentary earlier this week. "Recent market leaders, including the 'Magnificent Seven' technology heavyweights and cryptocurrency, have come under pressure."

Analysts remain extremely bullish on Amazon's prospects amid the recent turbulence in the market. Of the 74 firms polled by FactSet, 68 rate Amazon stock the equivalent of a Buy and none rate it Sell. The average price target is $283.

Write to Nate Wolf at nate.wolf@barrons.com

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February 11, 2026 12:40 ET (17:40 GMT)

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