Amazon just delivered a blowout Q2 2026 earnings beat with EPS of $5.75 vs. $1.82 consensus and revenue of $200.61B vs. $196.47B expected, driven by roaring AWS cloud growth and surging AI demand. The stock's +3.9% single-day surge confirms a decisive momentum breakout above the $232-$237 resistance zone that had capped the prior recovery, and the current price of $235.50 represents an attractive entry point to ride post-earnings momentum toward Morningstar's $280 fair value target over the next 2-3 months. With the AI commodities supercycle driving enterprise cloud adoption and AWS positioned as a primary beneficiary, near-term momentum is strongly supported by fundamental catalysts.