One company sells groceries and paperbacks, rents computing capacity to businesses that never see a warehouse, and is building data centers at a pace few companies have ever attempted. Three different crowds describe it three different ways: a retailer, a cloud provider, an AI builder. Every one of them is talking about the same share.
Owning Amazon the usual way takes a US brokerage account, dollars to fund it and an order that fills only during Nasdaq's regular session. That session runs six and a half hours from 09:30 in New York, which is late evening in Hong Kong and Singapore. A crypto holder keeps collateral in stablecoins and reads a cloud earnings number at midnight. Waiting for the next morning's opening bell is the part that grates.
Tokenized shares exist to close that gap. For Amazon, an issuer called Backed Assets (JE) Limited keeps real AMZN shares with a licensed custodian and mints one AMZNX token for each share it holds, and BloFin quotes that token against USDT on its spot market. Alongside it sits the AMZNUSDT Perpetual, a futures contract that tracks Amazon's price without any share changing hands, so a trader can hold the price in either direction on margin.
Amazon is one of the largest companies available that way, and one of the most misread, because its revenue, its profit and its spending each tell a different story. A share of it carries one vote, a slice of three very different businesses and no dividend at all. The token and the contract carry the price and no vote, and that difference is where the choice between them starts.
What is Amazon stock?
Amazon stock is a share of Amazon.com, Inc., the company behind the Amazon marketplace, Amazon Web Services and Prime, traded on Nasdaq under the ticker AMZN. At the close on September 15, 2026 one share cost $248.42, valuing the company at about $2.7 trillion across roughly 10.79 billion shares (source: Stock Analysis).
One share is one equal slice of that company. Amazon has only one class of common stock, registered with the Securities and Exchange Commission (SEC) under the symbol AMZN at a par value of one cent, and there is no second listed class (source: Amazon Form 10-K). The exchange is the Nasdaq Global Select Market and the International Securities Identification Number (ISIN) is US0231351067, the code a custodian uses to name the exact security it holds. Amazon went public on May 15, 1997 at $18.00 a share, which works out to $0.075 once you adjust for every split since (source: Amazon Investor Relations).
Because it is so large, the share sits inside every benchmark a fund is likely to track. Amazon is a constituent of the S&P 500 and the Nasdaq-100. Since February 26, 2024 it has also been one of the thirty stocks in the Dow Jones Industrial Average, where it replaced Walgreens Boots Alliance after Walmart's stock split reduced Walmart's weight in that price-weighted index (source: S&P Dow Jones Indices). Anyone who holds an index fund almost certainly already holds a sliver of Amazon without having chosen it.
If you hold USDT rather than dollars in a brokerage, the same exposure is available on BloFin in two forms: the AMZNX/USDT Spot pair, a tokenized share, and the AMZNUSDT Perpetual, a leveraged contract on the price. Both start from the question of what the share itself carries.
What one share of Amazon gives you
A share of Amazon is a claim on a fraction of everything the company earns and owns, plus one vote at its annual meeting. With about 10.79 billion shares in issue, one share is one of that many equal claims on a company that reported net income of $62.6 billion, or $5.75 a share, in the quarter to June 30, 2026, most of it a one-off gain on its stake in Anthropic (source: Amazon Q2 2026 earnings release).
The claim is real, but the way Amazon has chosen to return it to shareholders is unusual among companies of its size.
Amazon has never declared or paid a cash dividend on its common stock, and it says so plainly on its own investor pages (source: Amazon Investor Relations). Apple, Microsoft, Alphabet and Meta all pay one, while Amazon's board has kept every dollar of profit inside the business. It authorized a $10 billion share repurchase program in March 2022 and then bought back nothing at all in 2023, 2024 or 2025, and at the end of last year $6.1 billion of that authorization was still unused (source: Amazon Form 10-K). The return on an Amazon share is therefore entirely the change in its price. That policy goes back to the founding decision to reinvest every dollar, and the question of why Amazon has never paid a dividend while its peers started to comes down to what that reinvestment is buying.
That single class of stock also settles a question that trips up buyers of other mega-caps. Alphabet trades under two tickers because it has more than one share class, and several other large companies keep a founder class with extra votes off the market entirely. Amazon has one class, every share carries one vote, and there is nothing to choose between when you buy. As of January 28, 2026 there were 12,165 shareholders of record, a small number next to the far larger crowd holding through brokers and funds.
The price level you see today is the product of four splits. Amazon split its shares two for one in June 1998, three for one in January 1999, two for one again in September 1999, and twenty for one on June 3, 2022 (source: Amazon Investor Relations). Say you had held 100 shares from the initial public offering. The 1998 split made them 200, the January 1999 split 600, the September 1999 split 1,200, and the 2022 split 24,000, so one original share became 240. The 2022 split changed nothing about what you owned, but it did bring the share price down to a level that fits inside a price-weighted index.
One last classification matters more than it sounds. Index providers file Amazon under Consumer Discretionary, so that is the sector fund that carries it, even though most of its profit now comes from selling computing capacity. Where that profit comes from is the part most readers get wrong.
Where Amazon's money comes from
Amazon reports three segments, and the one that brings in the least revenue produces the most profit. In the quarter to June 30, 2026 net sales were $200.6 billion, up 20%: North America $116.2 billion, International $42.2 billion and AWS $42.2 billion. Of the $27.5 billion of operating income, AWS supplied $16.6 billion (source: Amazon Q2 2026 earnings release).
Segment, quarter to June 30, 2026 | Net sales | Operating income |
|---|---|---|
North America | $116.2 billion | $9.1 billion |
International | $42.2 billion | $1.7 billion |
AWS | $42.2 billion | $16.6 billion |
Total | $200.6 billion | $27.5 billion |
Seen that way, the three names people give the company stop competing with each other. The retailer is the revenue, most of it goods sold through the online store and fees paid by third-party sellers. The cloud provider is the profit: AWS grew 37%, its fastest rate in eighteen quarters, and produced roughly a fifth of sales but three fifths of operating income. The AI builder is the spending. Purchases of property and equipment ran $66.1 billion higher than a year earlier over the trailing twelve months, primarily on artificial intelligence. That spending is why free cash flow for that period was an outflow of $7.6 billion even as operating cash flow rose 33% to $161.4 billion (source: Amazon Q2 2026 earnings release).
Two smaller lines carry more weight than their size suggests. Advertising brought in $19.8 billion in the quarter, growing 26%, and subscriptions, mostly Prime, added $13.7 billion (source: Amazon Q2 2026 earnings release). Neither is a segment, so both are booked inside North America and International, which is one reason the retail segments look thinner than the businesses inside them (the full breakdown is in Amazon's business segments explained). The cloud business is reported the same way, inside the parent, so an investor who wants AWS alone runs into the same answer as anyone asking whether you can buy AWS stock: there is only the one share.
One figure from the same quarter can mislead if you meet it cold. Net income was $62.6 billion, more than double operating income, because it includes $53.4 billion of non-operating gains, primarily from Amazon's investment in Anthropic (source: Amazon Q2 2026 earnings release). Those gains are real accounting, but they record a change in the marked value of a stake, and no cash came in from selling anything. They are also why the trailing price-to-earnings ratio looks lower than the company's growth would suggest, because a one-off gain sits in the denominator. Week to week the share responds to a shorter list than the income statement suggests. What moves the Amazon stock price quarter to quarter comes down to the AWS growth rate, the capital-spending line and the advertising line, each of which the earnings release states in a single figure.
Amazon stock, AWS stock and Amazon buyback: What each phrase means
The words "Amazon" and "stock" attract three questions that have nothing to do with the share, and a search for the share will surface all of them. Settling the vocabulary once saves a lot of wrong clicks, because each phrase has a plain meaning on the shopping site and a different one in a brokerage account.
What you typed | What it usually means | What you are looking for |
|---|---|---|
Amazon stock, in stock, stock checker | inventory: whether an item is available to ship | the share is AMZN; the inventory sense has nothing to do with it |
AWS stock | a wish to own the cloud business on its own | there is no AWS ticker; AWS is a reporting segment of Amazon.com, Inc., so the only route is AMZN, AMZNX or AMZNUSDT |
Amazon buyback | the device trade-in program on amazon.com | the share repurchase program, which has been idle since 2022 |
Amazon ticker, Amazon stock symbol | the code brokers and exchanges use | AMZN, one ticker, one class; the tokenized version is AMZNX |
The inventory sense is the largest source of confusion, and it is why a search for Amazon stock surfaces the question of whether Amazon is a good place to buy stock. On the shopping site that is a question about delivery, and for the share it is a question about brokers and venues. The AWS question matters most to investors. AWS earns most of Amazon's profit and has never been separated from the parent, so every dollar of that profit is reached through the one listed share. The buyback phrase is a naming accident: Amazon's trade-in service is what most people mean by it, while the repurchase program that the word describes in finance has not bought a share since 2022 (source: Amazon Form 10-K).
Once the names are straight, the remaining question is how to hold the thing from an account that holds crypto.
How to get Amazon exposure with crypto on BloFin
BloFin lists Amazon two ways, and they are different instruments, not two prices for one thing. AMZNX/USDT Spot is a market for a token that tracks the share one to one. AMZNUSDT is a perpetual contract on the price, tradable long or short.
Leverage runs from 1x to 20x, funding on the perpetual settles every eight hours and the minimum order is 0.01 AMZN, as published on BloFin's contract details page on September 15, 2026 (source: BloFin AMZN contract details).
AMZNX is an xStock issued by Backed Assets (JE) Limited as a tracker certificate on Amazon.com, Inc., minted as a Solana token under the SPL (Solana Program Library) standard and as an ERC-20 token on Ethereum. The shares sit with custodians including Alpaca Securities LLC and InCore Bank AG (source: Backed Assets). Each token is backed one to one by the stock, and corporate actions such as splits reach you through an on-chain rebasing of your balance rather than a claim you file (source: xStocks documentation). That makes you a creditor of the issuer holding the share's price, with no vote and no shareholder rights, and the issuer states that its tokens are not intended for US persons.
Because the certificate is what you hold, what tokenized Amazon (AMZNX) actually is matters more than the ticker suggests: the issuer publishes a live proof-of-reserves count, and the token can leave the exchange for your own wallet. Buying it works like any spot pair, with USDT in the account and a limit or market order; buying tokenized Amazon on BloFin takes the same few screens as any other spot purchase.
The perpetual gives you the price without the token. BloFin's stock futures are priced off an index of tokenized Amazon already circulating in the market and convey no ownership, dividend or voting right (source: BloFin stock futures notice). They carry the usual perpetual mechanics: margin, funding between longs and shorts, and liquidation. Orders are capped at 5,000 AMZN for a limit order and 500 AMZN for a market order, and prices are held within 3% of the index. Opening a position means choosing a margin mode, leverage and a stop before a size, and trading Amazon with leverage follows the same sequence as any other BloFin contract.
Amazon share through a broker | AMZNX/USDT Spot on BloFin | AMZNUSDT Perpetual on BloFin | |
|---|---|---|---|
What you hold | a registered share with one vote | a tracker certificate backed one to one by a share | a contract on the price, no ownership |
Quoted in | dollars | USDT | USDT |
Leverage | none, or a margin loan | none | 1x to 20x |
Ongoing cost | none | none | funding every eight hours, paid or received |
Corporate actions | you receive them directly | reflected in the token balance by rebasing | none; the contract tracks price only |
Smallest size | one share, or a fraction where the broker allows it | fractions of a token | 0.01 AMZN of notional |
Can you go short | only with a margin account and a borrow | no | yes |
Holding Amazon for months means the spot token: no funding to pay, and the balance simply tracks the share. A perpetual position pays or receives funding every eight hours, so held for weeks it carries a running cost the spot route does not; trading a move over days, or shorting one, is what it is for.
When each route trades
Both routes keep their own hours, and neither matches Nasdaq's. AMZNX/USDT is listed as a market that trades 24 hours a day, five days a week (source: BloFin xStocks risk disclosure). The pair has also traded through weekends, including Saturday, September 12 and Sunday, September 13, 2026, so treat the weekday schedule as the floor rather than the whole story.
The perpetual quotes at every hour. Outside regular US trading hours on weekdays, and on weekends and public holidays, BloFin may limit stock futures to reduce-only orders, which let you close or shrink a position but not open or add to one. Regular hours in BloFin's stock futures notice run from 13:30 to 20:00 UTC during US daylight saving time and from 14:30 to 21:00 UTC otherwise, which is Nasdaq's ordinary session. Amazon reports its quarterly results after the 16:00 Eastern close, so the release lands at the minute the window for opening new positions may shut. A trader who wants to be positioned for it sizes up before the close. The perpetual's index keeps updating through the weekend because the tokenized shares it is built from keep trading, so a gap against Friday's Nasdaq close can open and close again before Monday. The current funding rate, open interest and order-book depth are live on the AMZNUSDT Perpetual page, and the AMZNX/USDT Spot page shows where the token last traded against the share.
One share, three ways: A worked example
Take the $248.42 that one Amazon share cost at the close on September 15, 2026, and put it to work in each route (source: Stock Analysis). Through a broker it buys one share and one vote. On BloFin's spot market the same amount in USDT buys about one AMZNX, and 50 USDT buys about a fifth of one.
On the perpetual the same 248.42 USDT is margin rather than a purchase price, and how much Amazon it controls depends on the leverage you choose:
Notional you want: 1 AMZN = $248.42
At 1x leverage: margin = 248.42 USDT
At 5x leverage: margin = 49.68 USDT
At 10x leverage: margin = 24.84 USDT
A 5% move in Amazon = 12.42 USDT on 1 AMZN of notional
at 1x that is 5% of your margin
at 5x that is 25% of your margin
at 10x that is 50% of your margin, in either direction
The same 5% move is worth the same 12.42 USDT at every leverage setting. What leverage changes is how much of your own money stands behind it, and therefore how close a move against you brings the position to liquidation.
Exiting is the mirror image on each route. A token is sold back into USDT on the same spot pair, and a perpetual position is closed with an order in the opposite direction, which reduce-only always permits even when opening is restricted. Before sizing any of the three, check whether the market is open that day, the contract's current leverage and funding figures, and the price of the share itself at the moment you act. Today's price also sits at the end of two full cycles, the dot-com collapse and the 2022 drawdown, so an entry price only means something set against Amazon's price history and cycles. The nearest comparison for a retail holder is Amazon versus Walmart as investments, the retailer whose stock split put Amazon into the Dow.
Amazon sits beside Apple, Nvidia, Tesla and Alphabet among the tokenized stocks and other TradFi assets on BloFin, each holdable as a token against USDT. Each of those tokens follows the same design as AMZNX: one token per share held with a regulated custodian, corporate actions passed through by rebasing, and a price quoted against USDT. Choosing between them is a choice between the companies underneath, not between the tokens.
Looking to gain exposure to Amazon? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the AMZNX/USDT Spot trading page or AMZNUSDT Perpetual page.
Frequently asked questions
How many Amazon shares are there?
Amazon had 10,734,920,870 shares of common stock outstanding on January 28, 2026 (source: Amazon Form 10-K), and about 10.79 billion by mid-September 2026 (source: Stock Analysis). The count drifts upward because Amazon pays much of its staff in restricted stock. Restricted stock units worth $30 billion vested in 2025 alone, and 1.4 billion further shares were reserved for future issuance to employees at the end of that year. With no buybacks since 2022, nothing has offset that issuance.
What did Amazon guide for the third quarter of 2026?
For the quarter ending September 30, 2026, Amazon guided net sales of $197.0 billion to $202.0 billion, growth of 9% to 12% on a year earlier (source: Amazon Q2 2026 earnings release). It guided operating income of $22.5 billion to $26.5 billion, against the $17.4 billion Amazon reported for the same quarter of 2025. Amazon publishes that range with each quarterly earnings release, one quarter ahead. The guidance assumes no effect from the remeasurement of its energy derivative contracts, a line Amazon revalues every quarter and that can move reported operating income either way.
What happens to AMZNX if Amazon pays a dividend or splits again?
The issuer passes corporate actions through by rebasing your token balance rather than paying anything out. A further split would change the number of AMZNX tokens you hold while the price of each adjusted the other way, so the value you hold would not change. A cash dividend, which Amazon has never paid, would be reflected in your token balance rather than arriving as a USDT payment (source: xStocks documentation). The adjustment is applied on-chain to every balance, so there is nothing to claim and no form to file.
When does Amazon report its results?
Amazon's fiscal year is the calendar year, so it reports four quarters ending March, June, September and December, each a few weeks after the quarter closes and after the 16:00 Eastern market close on the day. The second quarter of 2026 was reported on July 30, 2026 (source: Amazon Q2 2026 earnings release). The fourth quarter, which carries the holiday season, arrives in early February. The release day is the busiest trading window of the quarter for the share, the token and the perpetual alike.
What is Amazon's price-to-earnings ratio?
At the September 15, 2026 close of $248.42, Amazon traded at 19.98 times its trailing twelve-month earnings (source: Stock Analysis). That is lower than the multiple the share has usually carried, because the trailing earnings include a $53.4 billion non-operating gain, mostly the marked-up value of Amazon's stake in Anthropic, booked in the June 2026 quarter. Set that gain aside and the share trades on a considerably higher multiple of the profit its operations actually produce, which is the figure to use when comparing Amazon with any other company.
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. Primary sources include Amazon's investor relations FAQ, Amazon's second quarter 2026 earnings release and 2025 Form 10-K, S&P Dow Jones Indices, Backed Assets and the xStocks documentation, and BloFin's own contract and trading notices. All facts independently verified against cited documentation current as of September 2026.
Educational content only, and never financial, investment or trading advice. Stocks, tokenized stocks and perpetual futures can lose value quickly, leveraged positions can be liquidated, and past performance is no guide to future results. Do your own research and consider your own circumstances before trading.