While both stocks are declining sharply, their trajectories diverged significantly in 2021. Alphabet was the best-performing Big Tech stock of the year, soaring 68%. Amazon was the worst, gaining 2.4%.
“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” Amazon CEO Andy Jassy said in a statement.
“This may take some time, particularly as we work through ongoing inflationary and supply chain pressures, but we see encouraging progress on a number of customer experience dimensions, including delivery speed performance as we’re now approaching levels not seen since the months immediately preceding the pandemic in early 2020,” Jassy added.