Is Amazon.com (AMZN) Reasonable After Its AI Spending Push?

Amazon.com has ridden a powerful three year run in its share price, and the question now is whether the cash the business can realistically generate backs up where the stock trades today. With investors focused on AI spending, data centers, security and devices, the real issue is how those projects feed into future cash flows rather than just the story around them. Over the past 3 years, Amazon.com has returned 116.1%. That places significant emphasis on the idea that future cash generation...