While advanced innovations such as artificial intelligence have buoyed the broader technology ecosystem, the sector has recently encountered significant pressure. As such, quite a few tech powerhouses have suffered volatility. However, e-commerce and cloud-computing giant Amazon.com Inc (NASDAQ:AMZN) has managed to ride out the storm. Still, perpetual bullish cycles are difficult to come by these days, raising questions about AMZN stock.
On a year-to-date perspective, Amazon's market performance isn't exactly remarkable, gaining a bit under 9%. In contrast, the benchmark S&P 500 index has gained nearly 11%. However, since the close of April 21 — when AMZN stock finished the session at $167.32 — the security gained over 42%. In early August, AMZN also managed to pop above its 50-day moving average following a brief downturn.
