Amazon Stock After Hours on December 8, 2025: AI Jitters, Fed Fears and What to Watch Before the December 9 Open

Amazon.com, Inc. (NASDAQ: AMZN) ended Monday’s session under pressure again, extending a multi‑day pullback from its early‑November record high as investors weighed heavy AI spending, labor headlines and an anxious macro backdrop ahead of this week’s Federal Reserve decision. ^[1]

Below is a detailed look at how AMZN traded after the bell on December 8, 2025, what drove the move, and the key things traders and long‑term investors should know before the U.S. market opens on Tuesday, December 9, 2025.

1. Amazon stock on December 8, 2025: How the day ended

• Regular session:
  Intraday data show Amazon opened around $229–$230, traded as high as roughly $230.8, and slipped to an intraday low near $226.7 before closing just under $227, down about 1.1–1.2% on the day. ^[2]
• After hours:
  Real‑time quote feeds late Monday had AMZN changing hands near $227 again in light after‑hours trade – essentially flat versus the close, suggesting no major new company‑specific headlines hit after the bell.
• Bigger picture:
  • Amazon remains well off its early‑November all‑time high around $258.60, but still comfortably above its 52‑week low near $161.38. ^[3]
  • Depending on the exact start date used, the stock is up only mid‑single‑digits year‑to‑date, noticeably lagging the S&P 500’s mid‑teens gain and placing it among the weaker performers in the “Magnificent Seven” this year. TechStock²+2Nasdaq+2

In other words, Monday’s move was not a crash – but it added to a short streak of red days that has taken some shine off Amazon’s post‑earnings rally.

2. Why AMZN is under pressure: AI capex, valuation and labor headlines

2.1 Five‑day slide tied to AI spending and protests

A fresh note from FXLeaders on Monday highlighted that Amazon’s “stellar November rally” has reversed into a five‑session slide, as traders question whether the company’s aggressive AI and data‑center build‑out can justify its soaring capital expenditure. The piece also points to employee protests and labor tensions as adding to the negative narrative. ^[4]

The core worry:

• AI infrastructure and custom‑chip projects require huge upfront cash outlays.
• Those outlays compress free cash flow, which many models use to value Amazon.
• When sentiment toward the broader “AI trade” wobbles, AMZN can suddenly look expensive on some metrics.

2.2 2025 performance: strong business, “meh” stock

Multiple analyses published today and over the weekend – including from Nasdaq/Motley Fool, AInvest and 24/7 Wall St. – all tell a similar story: ^[5]

• Operations:
  • E‑commerce is back to double‑digit growth.
  • High‑margin businesses (cloud, ads, third‑party marketplace) are accelerating.
• Stock price:
  • AMZN has returned only ~6–7% so far in 2025, versus ~16% for the S&P 500.
  • Within the Magnificent Seven it’s essentially tied with Tesla near the bottom of the group. TechStock²+1

That disconnect between good fundamentals and underwhelming share performance is a big part of why the stock feels “heavy” here – and why articles are popping up with titles like “Is Amazon Stock Undervalued Amid 2025’s Disappointing Performance?” ^[6]

2.3 Labor, automation and PR risk

On top of AI spending, Amazon is juggling human‑capital and regulatory optics:

• A widely cited Fortune report in October detailed how Amazon laid off more than 14,000 employees around the time of its latest earnings – even as Wall Street cheered the cost cuts. ^[7]
• A Bloomberg tech newsletter (summarized in today’s TS2 coverage) noted how Amazon is marketing AI tools as “co‑workers” in the office while continuing to streamline the workforce, highlighting a tension that may not play well with regulators or the public. TechStock²

So even when the numbers look solid, headline risk around jobs, automation and trust can dampen enthusiasm – especially in an election‑heated environment.

3. Fundamentals remain strong: Q3 earnings and AWS momentum

Despite the short‑term wobble, the underlying business looked excellent in Q3 FY 2025, and that’s a point nearly every serious analysis makes.

3.1 Q3 FY 2025 by the numbers

Across TS2, Futurum Research, AInvest and company filings, the latest quarter breaks down roughly as follows: TechStock²+2Futurum+2

• Net sales:
  • $180.2 billion, up 13% year‑on‑year (12% in constant currency).
  • North America: $106.3B (+11%).
  • International: $40.9B (+14%).
  • AWS (cloud): $33.0B (+20%).
• Profitability:
  • Operating income: $17.4B (9.7% margin), held down by roughly $4.3B in special charges, including a $2.5B legal settlement with the FTC.
  • Excluding those charges, operating income would have been about $21.7B, highlighting robust underlying profitability. ^[8]
  • Net income: $21.2B, up roughly 36–38% year‑on‑year, with EPS at $1.95 versus about $1.57 expected. TechStock²+1
• Cash generation:
  Trailing 12‑month operating cash flow climbed to around $130.7B, up 16% year‑on‑year. TechStock²

3.2 AWS: the AI engine

Amazon Web Services remains the company’s profit machine and AI growth engine:

• Q3 AWS revenue grew 20.2% YoY to $33B, its fastest pace since 2022 and well ahead of prior quarters. TechStock²+2Futurum+2
• AWS generated about two‑thirds of total operating income, despite representing less than a fifth of sales. ^[9]
• Management highlighted more than 3.8 gigawatts of new power capacity added in the last 12 months, with plans to roughly double AWS capacity again by 2027 to keep up with AI and cloud demand. ^[10]

3.3 AI strategy: chips, models and mega‑deals

Recent events reinforce that Amazon is all‑in on AI infrastructure:

• At AWS re:Invent 2025, Amazon announced:
  • Graviton5 CPUs and Trainium3 AI accelerators (plus “UltraServer” configurations) aimed at cheaper, denser AI compute.
  • New Amazon Nova foundation models and tools for building more reliable “agentic” AI systems.
  • Bedrock AgentCore and “AI Factories” to make it easier for enterprises to deploy large AI workloads on AWS. TechStock²
• A multi‑year Nvidia partnership will use NVLink Fusion interconnects to tie future Trainium chips into advanced GPU clusters, a move Bank of America has framed as another sign the AI cycle is far from over, not a bursting bubble. ^[11]
• CoinCentral reported a $38 billion, seven‑year cloud deal with OpenAI, under which AWS will provide compute and Nvidia GPU access for OpenAI workloads – a huge vote of confidence in Amazon as a top‑tier AI infrastructure provider. ^[12]

Put simply, AI is not a side project for Amazon – it is embedded deeply in AWS, retail logistics, advertising and new consumer experiences like its Rufus shopping assistant. TechStock²+1

4. What Wall Street expects for Amazon stock

4.1 Rating and price‑target consensus

Two big round‑ups published today – one by 24/7 Wall St. and one collated in TS2’s morning note – paint a remarkably bullish consensus: ^[13]

• Around 43 of 44 analysts rate AMZN a “Buy”, with just one “Hold” and no active “Sell” ratings.
• The median 12‑month price target sits near $295–$296 per share, implying roughly 25–30% upside from today’s sub‑$230 levels.
• Street targets currently range from about $250 on the low end (still implying modest upside) to roughly $340 at the high end.

Major firms have reiterated their optimism recently:

• Citizens: “Market Outperform,” $300 target, citing AI initiatives, Rufus assistant and seller‑fee tweaks. TechStock²
• Goldman Sachs: “Buy,” around $290 target, expecting AWS revenue to grow 20%+ annually for the next three years. TechStock²
• Jefferies reaffirmed its Buy rating on Monday as well, according to MarketBeat’s latest note. ^[14]

4.2 Are shares cheap, expensive, or “fair”?

This is where the story gets more nuanced.

Earnings–based view (mildly supportive):

• AInvest puts Amazon’s trailing P/E around 32.4 and forward P/E near 28.6, with analysts projecting EPS to grow at about 14.2% annually through 2027. That implies a PEG ratio near 2.0, not bargain‑basement but in line with high‑quality growth franchises. ^[15]
• Simply Wall St’s models (as cited by TS2) argue that AMZN’s earnings multiple is slightly below what they consider a “fair” P/E of 36.8x, suggesting the stock is modestly undervalued on profit metrics. TechStock²

Cash‑flow / DCF view (more cautious to bearish):

• GuruFocus’ discounted‑earnings model pegs intrinsic value around $188 per share, implying ~20% downside from current prices under its assumptions, and flags Amazon’s price‑to‑free‑cash‑flow ratio above 200, far higher than the retail‑sector median. TechStock²
• AlphaSpread’s blended DCF‑plus‑relative model lands near $178, again suggesting the stock screens overvalued unless one assumes very strong long‑term growth and margin expansion. TechStock²

Long‑term scenario work:

• A separate 24/7 Wall St. 2030 piece outlines a baseline scenario in which Amazon’s net income reaches around $100B and the P/E multiple compresses to roughly 26x; that math spits out a 2030 share price near $250, only about 9% above current levels. Their bull and bear cases diverge more dramatically around that base case. ^[16]

Takeaway:
Analysts overwhelmingly like the business and model double‑digit upside over the next year, but valuation models disagree depending on whether you focus on near‑term free cash flow or earnings power and AWS‑driven growth.

5. Technical picture heading into the December 9 open

A fresh technical analysis from OANDA’s MarketPulse, published late Monday, framed Amazon’s chart as a “mean reversal lower” following its early‑November breakout. Key points: ^[17]

• All‑time high: Around $258.60 at the start of November.
• Since then, the stock has pulled back within a shallow descending channel, rather than collapsing outright.
• Forward P/E around 28.5 is described as “regressing from elevated levels,” reflecting some valuation pressure.

Important levels technicians are watching:

• Immediate support:
  • $220–$230 – labelled a “pivot zone” and immediate support region. With AMZN now trading in the mid‑$220s, we are sitting inside this zone.
• Deeper support:
  • The 200‑period moving average near $214.8 on the key intraday/daily chart.
  • A psychological and structural support area around $200.
• Upside resistance:
  • $240 (February 2025 resistance).
  • $255–$260, corresponding to November’s highs and the current all‑time peak.

MarketPulse notes that RSI has turned lower, putting short‑term control in the hands of sellers and warning that a decisive break below the 200‑day moving average could open a move toward $200. For now, though, price action still looks range‑bound rather than outright broken. ^[18]

6. Macro backdrop: Fed decision looms

Monday’s broader market mood was subdued:

• OANDA’s U.S. equity heatmap showed a broad “red wave” across major indices as traders engaged in profit‑taking ahead of Wednesday’s FOMC meeting. ^[19]
• An FXLeaders piece on the macro environment described markets as bracing for a “make‑or‑break” Fed decision, with consensus looking for a 25 bp rate cut that would take the fed funds rate into the 3.50–3.75% range, but with deep uncertainty about the 2026 path. ^[20]
• TS2’s Amazon note also flagged the December 10 Fed policy update as one of the key macro catalysts for all long‑duration growth stocks this week. TechStock²

For a company like Amazon – whose value is heavily tied to future cash flows from cloud and AI – changes in rate‑cut expectations can move the share price even without any new company‑specific news.

7. Five things to watch before the December 9, 2025 opening bell

Here are the main storylines and data points that are likely to matter between now and tomorrow’s U.S. open:

7.1 Overnight macro headlines and futures

• Any surprise in Asian or European trading, especially reactions to Fed‑related commentary or new U.S. economic data leaks, could set the tone for Nasdaq futures.
• Higher Treasury yields or hawkish Fed chatter tend to weigh on high‑multiple growth names like AMZN.

7.2 AI and cloud sentiment

• Look for follow‑on research from Wall Street reacting to:
  • The AWS–OpenAI mega‑deal, which CoinCentral framed as deepening Amazon’s role in AI infrastructure. ^[21]
  • Bank of America’s view (via Business Insider) that AWS re:Invent shows no AI bubble yet, and that Amazon’s AI push should be a tailwind for Nvidia and other chip partners. ^[22]
• Any new commentary that downplays AI capex fears could help arrest the current slide; more skepticism about spending could extend it.

7.3 Holiday shopping and Q4 margin expectations

• Data from Adobe Analytics and other trackers continue to show record U.S. online spending for Cyber Week and the broader holiday season, a clear positive for Amazon’s top line. TechStock²
• The key unknown is how much of that revenue turns into profit after aggressive discounting, shipping costs and AI infrastructure capex. Any update – from Amazon or third‑party trackers – on:
  • shipping bottlenecks,
  • returns volumes, or
  • changes in fee structures
    can move expectations for Q4 margins.

7.4 Labor and regulatory headlines

• Watch for fresh coverage around:
  • Worker protests or strikes,
  • AI‑driven automation and job cuts,
  • regulatory actions tied to labor or antitrust.

The Fortune layoffs story and Bloomberg’s focus on “AI co‑workers” show that this theme is on journalists’ and policymakers’ radar. Negative headlines here might not impact tomorrow’s open by themselves, but they add to the overhang when sentiment is fragile. ^[23]

7.5 Institutional flows and options positioning

• TS2’s roundup noted that Vanguard increased its Amazon stake by about 2.1% in Q2 to nearly 850 million shares, while other 13F filings show smaller managers adding to positions as well; roughly 72% of AMZN’s float is in institutional hands. TechStock²+1
• Into a Fed week, options volume around key strikes (e.g., $220, $230, $240) can amplify moves. Traders will be watching for:
  • Unusual put or call activity,
  • Large block trades in the last hour before the close or right after the open tomorrow.

8. Short‑term scenarios for AMZN (non‑advice)

These are illustrative scenarios, not predictions or recommendations, but they outline how tomorrow could play out based on the levels and narratives above:

Bullish near‑term setup

Conditions:

• Nasdaq futures stabilize or move higher overnight.
• Fed‑related commentary leans dovish or in line with expectations.
• No negative surprise on AI capex or labor issues; maybe a favorable analyst note hits before the open.

What to watch:

• AMZN holding above $225–$227 at the open and reclaiming $230+ during the session.
• A push toward the upper end of the $220–$230 pivot zone, with strong volume on up‑moves. ^[24]

In this case, chart‑watchers would talk about “buying the dip within the range” ahead of the Fed.

Sideways / consolidation scenario

Conditions:

• Markets stay in “wait‑and‑see” mode before Wednesday’s FOMC; no big Amazon‑specific news.

What to watch:

• AMZN churning between roughly $220 and $230 with modest volume.
• Mixed intraday moves tightly correlated with the broader Nasdaq and other AI mega‑caps.

This would extend the range‑bound pattern that MarketPulse flagged, keeping the 200‑day moving average below price and postponing any decisive technical break. ^[25]

Bearish near‑term setup

Conditions:

• Macro data or Fed commentary pushes yields higher and renews fears of “higher for longer” rates.
• More headlines focus on AI spending bloat, union action, or broader tech‑sector derating. ^[26]

What to watch:

• A decisive break below ~$220, with follow‑through toward the $214–$215 200‑day moving average.
• If that level fails on strong volume, the market could start eyeing the $200 zone as the next major support.

For options traders and short‑term investors, this is the scenario where risk management and position sizing become critical.

9. Takeaways for different types of investors

Again, this is not financial advice, but here’s how today’s information is often interpreted by different investor profiles:

• Short‑term traders / swing traders
  • Focus is on the $220–$230 pivot zone, the 200‑day moving average, and how AMZN trades relative to other AI‑heavy names into Wednesday’s Fed decision. ^[27]
  • The five‑day losing streak and cautious macro backdrop may keep volatility elevated around the open tomorrow.
• Medium‑term investors (6–24 months)
  • See a tug‑of‑war between:
    • Very strong Q3 fundamentals and AWS momentum,
    • Heavy AI capex and legal settlements that pressure free cash flow,
    • A valuation that is not cheap, but potentially reasonable if double‑digit EPS growth materializes. ^[28]
• Long‑term investors (multi‑year)
  • Many analysts still frame Amazon as a core long‑duration growth holding, citing:
    • Dominant positions in e‑commerce, cloud and digital ads,
    • A massive installed Prime base,
    • Deep integration of AI across the business. ^[29]
  • However, scenario work like 24/7 Wall St.’s 2030 forecast underlines that future returns may depend heavily on how much you pay today and how much multiple compression you’re willing to assume. ^[30]

10. Bottom line

After the bell on December 8, 2025, Amazon stock sits in an awkward but fascinating spot:

• The business – especially AWS and advertising – is firing on most cylinders.
• The stock has lagged peers, is digesting a strong post‑earnings run, and is now wrestling with AI‑capex skepticism, labor headlines, and a crucial Fed week.
• Wall Street remains firmly bullish, but valuation models are split between “slightly undervalued” and “somewhat overvalued,” depending on your lens.

Heading into the December 9 open, the most important things to watch are:

1. The broader macro tone around the Fed decision.
2. Any new AI or cloud‑deal headlines that change the capex narrative.
3. How AMZN behaves around the $220–$230 pivot zone and the $214–$215 200‑day moving average.

As always, anyone considering trading or investing in Amazon should match decisions to their own time horizon, risk tolerance and diversification needs, and treat this article as information, not a recommendation. Prices, forecasts and opinions can and will change as new data emerge.

References

1. www.tradingview.com, 2. www.investing.com, 3. www.tradingview.com, 4. www.fxleaders.com, 5. www.nasdaq.com, 6. www.ainvest.com, 7. fortune.com, 8. www.ainvest.com, 9. www.nasdaq.com, 10. futurumgroup.com, 11. www.reuters.com, 12. coincentral.com, 13. 247wallst.com, 14. www.marketbeat.com, 15. www.ainvest.com, 16. 247wallst.com, 17. www.marketpulse.com, 18. www.marketpulse.com, 19. www.marketpulse.com, 20. www.fxleaders.com, 21. coincentral.com, 22. www.businessinsider.com, 23. fortune.com, 24. www.marketpulse.com, 25. www.marketpulse.com, 26. www.fxleaders.com, 27. www.marketpulse.com, 28. www.ainvest.com, 29. 247wallst.com, 30. 247wallst.com