#TradFi交易分享挑战 Amazon (AMZN)
Amazon’s stock price has recently been trading strongly at high levels. As of May 20, it closed at approximately $265.01, up about 2.19% for the day. The current price is near the upper end of the 52-week range of $196.00–$278.56.
Q1 2026 AWS revenue was $37.6 billion, up 28% year over year, the fastest growth rate in the past 15 quarters, breaking the prior narrative that cloud business growth was slowing. AI inference workloads are one of the drivers of this latest high-speed growth, and the company’s deployments on Bedrock and Trainium are continuing to expand its customer base.
Retail business margin improvement
North America retail operating profit margin increased from 8.0% to 9.0%, implying approximately $4 billion in annualized incremental operating profit. The push in the advertising business and the rollout of regional fulfillment systems are important drivers behind the margin expansion.
In addition, the company’s full-year 2026 capital expenditure guidance is about $200 billion, and there are concerns that near-term free cash flow may be constrained as a result. JPMorgan maintains an Overweight rating but has slightly lowered its target price from $313 to $312. With the stock price near historical highs, investors need to weigh whether to bet on a double growth momentum—AWS re-accelerating combined with further retail profit margin expansion (9.0%→+)—or to take a cautious stance toward a price that has already priced in a large number of optimistic expectations.
Amazon AWS regains 28% high growth, retail profit margin continues to expand (9.0%→+), $200 billion in capital expenditure suppresses near-term free cash flow, stock price near historical highs $AMZN
Amazon’s stock price has recently been trading strongly at high levels. As of May 20, it closed at approximately $265.01, up about 2.19% for the day. The current price is near the upper end of the 52-week range of $196.00–$278.56.
Q1 2026 AWS revenue was $37.6 billion, up 28% year over year, the fastest growth rate in the past 15 quarters, breaking the prior narrative that cloud business growth was slowing. AI inference workloads are one of the drivers of this latest high-speed growth, and the company’s deployments on Bedrock and Trainium are continuing to expand its customer base.
Retail business margin improvement
North America retail operating profit margin increased from 8.0% to 9.0%, implying approximately $4 billion in annualized incremental operating profit. The push in the advertising business and the rollout of regional fulfillment systems are important drivers behind the margin expansion.
In addition, the company’s full-year 2026 capital expenditure guidance is about $200 billion, and there are concerns that near-term free cash flow may be constrained as a result. JPMorgan maintains an Overweight rating but has slightly lowered its target price from $313 to $312. With the stock price near historical highs, investors need to weigh whether to bet on a double growth momentum—AWS re-accelerating combined with further retail profit margin expansion (9.0%→+)—or to take a cautious stance toward a price that has already priced in a large number of optimistic expectations.
Amazon AWS regains 28% high growth, retail profit margin continues to expand (9.0%→+), $200 billion in capital expenditure suppresses near-term free cash flow, stock price near historical highs $AMZN
