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Amazon (AMZN) stock has underperformed the broader markets so far in 2025. Shares of the tech giant are up just 4.2% year-to-date, trailing well behind the S&P 500 Index’s ($SPX) 9.8% gain over the same period.
While AMZN hasn’t delivered much upside yet in 2025, this lull may not last much longer. In fact, there are three key growth drivers that could drive Amazon stock higher. Let’s break it down.