Amazon shares
Investment Thesis
AMZN is entering at $272.26 — approximately 3% below Morningstar's $280 fair value — during a healthy post-earnings consolidation after a 20%+ surge driven by record Q2 FY2026 results including 37% AWS growth (fifth consecutive acceleration), 245% net income expansion, and AI monetization now exceeding $25B annual run rates. The pullback is technical profit-taking with no fundamental deterioration, offering a favorable re-entry into a structurally compounding AI infrastructure and cloud business. AWS's accelerating growth trajectory, expanding advertising revenues, and Amazon's dominant positioning as a vertically integrated AI platform provider underpin a credible path to $300+ over the 2-3 month horizon.
Catalysts to Watch
Q3 FY2026 earnings report, AWS quarterly revenue growth rate, AI capex ROI signals, Anthropic partnership developments, advertising revenue trajectory, regulatory developments around AI governance, New Jersey lawsuit progression, macro risk-off events affecting tech multiples
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