Over the past decade, shares of Amazon (AMZN -0.09%) climbed about eightfold, an impressive return that crushes the rise of both the S&P 500 and the Nasdaq Composite index by wide margins. This clearly makes the e-commerce and cloud computing juggernaut one of the best investments to have owned. 

However, since hitting its all-time high of $186.12 in July 2021, the stock is down 44% (as of this writing). The company has clearly been dealing with macro headwinds, like every other business. But CEO Andy Jassy isn't too worried. In fact, you won't believe what he said about Amazon's stock price. 

Focusing on the things that matter 

"I don't spend a lot of my time focused on the stock price," Jassy, who took over the tech giant's lead position from founder Jeff Bezos in July 2021, said in a recent CNBC interview.

He's really referring to the day-to-day movement of shares, which don't matter much in the grand scheme of things. Instead, he cares about things that he and his team can control, like obsessing over the customer and trying to keep building great products and services. Over the long term, this is what really matters and what will drive the stock price higher. It's hard not to appreciate this perspective from the CEO of one of the largest businesses in the world.  

What stood out about Jassy's statement was how closely it matched what Bezos wrote in his famous 1997 shareholder letter. More than 20 years ago, the legendary tech founder and now third-richest person in the world laid out Amazon's roadmap, a piece of literature that is still popular today. 

"We believe that a fundamental measure of our success will be the shareholder value we create over the long term," Bezos wrote.

This meant continuing to relentlessly fixate on what the customer needs, while also investing in building up the required infrastructure to be able to serve them.

Focusing on the things that matter has clearly worked well for Amazon, as its stock is up a whopping 106,000% all time, despite experiencing multiple sizable drawdowns during that time. This should hopefully make the current 44% discount to the all-time high more manageable. 

To be clear, Amazon is going through a bit of a rough patch right now, and this is why Jassy's levelheadedness is critical. So far, the business laid off 27,000 employees. And due to softer macro conditions and the expectation of a recession, consumer and enterprise spending are under pressure, which negatively impacts Amazon's e-commerce marketplace and web services segments. The company posted revenue of $149 billion in the last three months of 2022, up just 9% year over year, a marked slowdown. But by constantly asking what it can do for its customers, especially in a trying time like now, Amazon should benefit over the long term. 

Amazon is an outlier 

This type of corporate mentality is likely extremely rare in the world of business. And it makes sense why. Executives are forced to keep their attention on the next quarter in an effort to please Wall Street analysts and to meet their estimates. And this isn't going to change anytime soon, as the market's time horizon keeps shrinking. 

"Because of our emphasis on the long term, we may make decisions and weigh trade-offs differently than some companies," Bezos wrote back then.

This is just as true today. And it better positions Amazon for healthy revenue growth, a key factor that should support a higher stock price eventually. 

I believe all CEOs should have the kind of mentality that Bezos emphasized in 1997 and that Jassy reiterated this year. It makes it very hard not to like Amazon as a good investment right now.