If you had put $1,000 into Amazon’s IPO back in 1997, you’d basically be looking at roughly $2.5 million today.
That is not a typo.
But looking at the amzn stock chart history isn't just a fun exercise in "what if." It’s a messy, fascinating story of a company that almost went bankrupt, survived the dot-com bubble, and then fundamentally changed how we buy literally everything. Honestly, it’s one of the few charts that can make a seasoned Wall Street trader feel a little lightheaded.
The Early Days and the Dot-Com Crash
Amazon went public on May 15, 1997. The IPO price? Just $18 a share.
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If you look at an split-adjusted chart today, that price is a measly $0.075. Back then, Jeff Bezos was just a guy selling books out of a garage in Bellevue, Washington. The stock chart from 1997 to 1999 looks like a vertical line. It was the height of the dot-com mania. Everyone thought every internet company was going to be worth trillions.
Then came the year 2000.
The bubble didn’t just pop; it disintegrated. Amazon’s stock price crashed from over $100 down to below $10. It was brutal. Most people thought Amazon was a goner, just another Pets.com. But Bezos stayed focused on "Day 1."
He didn't care about the stock price; he cared about the cash flow. This is the first big lesson in the amzn stock chart history: the price on the screen doesn't always reflect the value being built behind the scenes.
Splits and Surges: The 20-Year Climb
Between 1998 and 1999, Amazon split its stock three times.
- June 2, 1998: 2-for-1 split
- January 5, 1999: 3-for-1 split
- September 1, 1999: 2-for-1 split
After that? Silence for over two decades.
The stock just kept grinding higher. It wasn't always smooth. In 2008, during the Great Recession, the price took another massive hit, dropping roughly 60%. But the 2010s were different. That's when Amazon Web Services (AWS) really started to print money.
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By 2018, the stock crossed the $1,000 mark for the first time. Then, in 2020, the pandemic happened. While the rest of the world shut down, Amazon became a lifeline. The stock chart exploded again, reaching an all-time high (at the time) of around $3,700 in July 2021 before the next big split.
The 20-for-1 Split and Recent Volatility
On June 3, 2022, Amazon finally did it. They executed a massive 20-for-1 stock split.
This made the shares much more "affordable" for the average person. Instead of needing $3,000 to buy one share, you could get in for about $150. But 2022 was a rough year for tech. High inflation and rising interest rates sent the stock tumbling nearly 50% from its highs.
Fast forward to 2025 and 2026, and we've seen a massive recovery. As of mid-January 2026, the stock is trading around $237, with a market cap sitting at a staggering $2.5 trillion.
What's driving the chart now?
It's not just books or Prime anymore. It's AI. The massive $38 billion deal with OpenAI for Nvidia GPUs, which was talked about in late 2025, shows that Amazon is positioning itself to be the backbone of the next tech revolution.
Actionable Insights for Investors
Looking at the history of AMZN isn't about chasing past gains. It's about understanding the "why."
First, ignore the short-term noise. If you sold every time the chart dropped 20%, you would have missed out on one of the greatest wealth-building engines in history. Second, watch AWS. Even though it's a "retail" company, the cloud is what often fuels the stock's big moves.
Next Steps for You:
If you're looking at the current chart, check the "support levels" around the $220 mark. Historically, institutional buyers tend to step in when the stock dips to its 200-day moving average. Also, keep an eye on the upcoming Q4 earnings report in early February. That usually sets the tone for the first half of the year.
Don't just look at the price; look at the free cash flow. That's what saved them in 2001, and it's what's driving them toward a $3 trillion valuation today.