Sell or hold $AMZN? 📈

I’m currently thinking about what to do next with my position in $AMZN.

At the moment I hold three separate positions that together make up roughly 4% of my portfolio. I bought during Q1 2025 and again in February 2026. The average purchase price is about 208 USD and at current prices I’m roughly +30% unrealized.

I originally entered the position with a clearly defined target of 252 USD. Amazon broke through that level very quickly and continued much higher. When the stock reached 272 USD, I activated a trailing stop-loss (TSL), with the stop originally set at the original target level of 252 USD.

And now comes the harder part of the decision:

One option is to simply keep the TSL active. That would let the trend continue naturally, protect most of the gains and possibly let the position close automatically if momentum weakens. If a sale occurred, I would probably wait for a correction below 230 USD and then start rebuilding the position gradually there. Just sleeping well and no worries.

This approach makes sense to me mainly because it preserves discipline. Unrealized profit becomes realized profit and at the same time I recognize that the current valuation is not exactly cheap. With large tech companies volatility can also arrive very quickly. The same approach recently worked very well for me with $AMD and $ARM.

The second option is to cancel the trailing stop-loss and move $AMZN into the “forever hold - I hold forever” category. That would, however, completely change the original investment thesis. What started as a mid-term growth trade would become a long-term compounder position similar to stocks like $T, $MO, $BTI or $KO, which I hold mainly for stability and long-term resilience.

And honestly — Amazon might be starting to deserve such a category. AWS remains a dominant cloud business, the company has huge exposure to AI infrastructure, still dominates e‑commerce and generates massive cash flow over the long term. More and more, Amazon reminds me of a global technology infrastructure rather than a classic growth stock.

That's exactly why this decision is so difficult.

Momentum remains very strong, but the valuation is certainly no longer cheap. And historically even the best companies go through 15–30% corrections, sentiment resets, or periods of excessive optimism.

The key question then is:

Am I holding Amazon for its fundamentals? Or just because the momentum is currently too strong to sell? And that difference, in my view, is very important.

At the moment I’m still slightly inclined to keep the trailing stop-loss active, respect the original plan and possibly wait for a better entry when volatility returns.

On the other hand, I increasingly understand the argument “you don’t sell quality companies,” especially with companies like Amazon.

And honestly — these are some of the hardest investment decisions: recognizing the moment when a trade becomes a long-term investment.

What would you do in my place?