The S&P 500 is falling this year, but Amazon (AMZN 2.97%) stock is falling even harder. It's down 14% in 2025 as investors are concerned about its fate in the new tariff era, while the S&P 500 is down only 6%. Both these numbers represent a climb back up, since the market looks like it's beginning to stabilize -- for the time being, anyway.At the current price, Amazon stock is trading at valuations that are cheaper than they've been in more than a decade, and that includes the 2020 market crash. If you inve ...