Amazon Stock Soars as Analysts Praise Its Best Quarter in a Decade

Amazon Web Services (AWS) growth accelerated to 37% year-over-year, the fastest pace in 18 quarters, while operating income of $27.5 billion beat every published estimate. Analysts pointed to a $496 billion AWS backlog, a raised $220 billion capex guide and management’s clearest AI return-on-investment framework yet as reasons to stay bullish. AMZN stock is soaring. See the chart and price action here. The Bulls Benchmark analyst Daniel Kurnos delivered the most bullish call of the group, raising his target to $400 from $370. After nearly two decades covering Amazon, Kurnos wrote, “this might be one of the most impressive quarters in at least the last 10 years.” JPMorgan analyst Doug Anmuth lifted his target to $365 from $330 and called AWS’s acceleration “the fastest in 18 quarters.” Amazon remains a “Bes...