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Amazon.com, Inc. (NASDAQ:AMZN) is one of the
8 Best AI Stocks to Buy According to Billionaire Ken Griffin.
On April 20, 2026, Reuters reported that California accused Amazon.com, Inc. (NASDAQ:AMZN) of collaborating with retailers to drive up consumer prices, referring to newly released evidence in a 3-1/2-year antitrust action led by Attorney General Rob Bonta. The filing alleged Amazon.com, Inc. (NASDAQ:AMZN) engaged with companies such as Levi Strauss to influence pricing at Walmart, Home Depot, and Chewy in order to avoid matching lower rates.
Bonta claimed that the firm’s actions prompted competitors to raise prices or limit availability and made sure that the firm would not be undercut. The complaint included examples of efforts to raise costs on fertilizer, eye drops, khaki pants, and pet treats.
Amazon.com, Inc. (NASDAQ:AMZN) said that its agreements are still legal and beneficial to consumers and that the litigation is an attempt to deflect from problems in California’s claims. The corporation intends to respond in court.
Copyright: prykhodov / 123RF Stock Photo
The action seeks damages and an injunction to stop the alleged conduct, with a hearing planned for July 23 and a trial on January 19, 2027. Amazon.com, Inc. (NASDAQ:AMZN) generated more sales than Walmart in 2025.
Amazon.com, Inc. (NASDAQ:AMZN) is a globally recognized technology firm that provides online retail shopping operations. It operates in three segments: North America, International, and Amazon Web Services.
While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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