Amazon Surges 27% in April on AWS Boom as E-Commerce Stocks Diverge Sharply

U.S. e-commerce stocks diverged dramatically in April, led by Etsy's 29% rally on a Q1 revenue beat of $631M and sequential active buyer growth, with Amazon close behind at +27% fueled by AWS's 28% growth reacceleration and record $364B backlog. eBay advanced 14% on Q4 revenue of $2.97B (+15% YoY) and $517M in ad revenue, while Shopify stagnated near flat despite Q4 2025 revenue up 31% to $3.672B and a $2B buyback, reflecting punishment for high-multiple risks. This trend, driven by firm-specific fundamentals over macro sentiment (UMich at 53.3), underscores rewards for differentiated leaders; upcoming catalysts include Shopify Q1 and eBay's Depop.