Amazon has been extraordinarily successful delivering shareholder value by plowing profits back into growing their business rather than via dividends or share r

Amazon has been extraordinarily successful delivering shareholder value by plowing profits back into growing their business rather than via dividends or share repurchases. The buyback might seem to be a strategy change, but it is "only" a $10B authorization, and the last authorization never resulted in more than half of the purchasing happening: This stock repurchase authorization replaces the previous $5 billion stock repurchase authorization, approved by the Board of Directors in 2016, under which the Company had repurchased $2.12 billion of its shares. Source: Amazon Form 8-K: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001018724/000101872422000009/amzn-20220309.htm https://www.sec.gov/ix?doc=/Archives/edgar/data/0001018724/0...