$AMZN - AMAZON FACES LONGEST SLUMP SINCE 2006 Amazon shares are on track for their longest losing streak in nearly 20 years, down 0.8% Friday and nine days in a row. The stock has lost 18%, erasing $470 billion in value, as investors fret over $200 billion in planned 2026 spending on data centers, chips, and AI. “Negative cash flow at this scale is a major red flag,” says Ameriprise strategist Anthony Saglimbene. Big tech’s $650 billion AI spend next year also fuels concerns. Amazon is down 17% this month, its worst since April 2022, with the Nasdaq 100 down 3.2%.