Amazon AMZN: Reddit Debates Capex While Megacap Status Shines

Amazon shares remained a focal point in Reddit discussions as investors weighed heavy capex across megacap tech.
Alphabet’s upcoming inclusion in the Dow Jones Industrial Average highlighted Amazon’s position among blue-chip tech giants.
Value investors compared Amazon’s cloud growth to Google’s, sparking debate about relative investment merits.

On June 23, 2026,

$AMZN drew significant retail-investor conversation across Reddit, fueled by two overlapping narratives: the ongoing debate about massive capital expenditures among the Magnificent Seven and the company’s reaffirmed status as a core megacap holding following news of Alphabet’s addition to the Dow Jones Industrial Average.

Capital Expenditure Debate Gains Traction

In r/ValueInvesting, a user asked why

$MSFT and

$META had been punished by the market while

$GOOGL and

$AMZN appeared to be doing well despite all four companies maintaining heavy capex budgets. The post garnered 258 upvotes and 157 comments, reflecting widespread uncertainty about how investors should value these spending commitments. One commenter noted that Amazon’s cloud growth reacceleration to 28% at its last earnings was impressive, but Google Cloud’s 64% year-over-year growth made it look modest by comparison.

Dow Jones Context Reinforces Megacap Positioning

In r/stocks, news that

$GOOGL would replace

$VZ in the Dow Jones Industrial Average on June 29 generated 318 upvotes and 35 comments. S&P Dow Jones Indices described Alphabet as joining “megacap tech peers

$NVDA,

$AMZN,

$AAPL and

$MSFT” in the blue-chip index. The explicit mention of Amazon alongside these names reinforced the company’s stature as a cornerstone of the modern U.S. stock market, even as the immediate news centered on Alphabet.

AMZN

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