Amazon's Post-Q2 Earnings Rally Has Slowed but Analysts Remain Bullish
Following a strong post-earnings rally after reporting Q2 results, Amazon (AMZN) has seen some of its gains fade in recent weeks. While the company delivered solid performance—particularly with AWS growing revenue by 37% year-over-year—the report was not as robust as Microsoft's and came with cautious guidance for Q3. Additionally, Amazon plans to increase capital expenditures significantly over the next two years, including a major investment in Nvidia GPUs, which has raised concerns about its free cash flow and spending habits. Despite these challenges, analysts remain optimistic about AMZN stock. Several brokerages have increased their price targets following the earnings report, with Raymond James raising it from $280 to $390 and Goldman Sachs adjusting upward as well. Rosenblatt Securities initiated coverage on Amazon with a
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Topics: Amazon AWS growth capex increase stock price movement