Amazon's Catch-Up Trade 🌤️ The Morning Print

Good morning! 

Amazon just logged its third-best week of the decade and now appears poised to play catch-up with a fellow mega-cap that was once written off.

Here's the setup.

Since the 2022 drawdown, Amazon and Google have largely moved in lockstep despite operating in different sectors and industries.

Both were viewed as “boring” mega-caps, with neither attracting meaningful capital preference.

That narrative shifted for Google last August.

Capital rotated aggressively into Google, while Amazon lagged and remained opportunity cost for investors.

Now, momentum is beginning to tilt in Amazon’s favor after years of sideways price action.

Can Amazon finally get going?