Amazon share price: earnings beat and AWS growth
Amazon reported second-quarter net sales of $200.60bn, up 20% year on year, as faster AWS growth supported earnings and helped lift the shares to a record high. Explore third-party AMZN price targets and technical analysis. Past performance is not a reliable indicator of future results.
Amazon.com, Inc. (AMZN) is trading at $278.60 as of 10.55am UTC on 4 August 2026. Past performance is not a reliable indicator of future results.
Recent moves follow Amazon's second-quarter results, reported on 30 July 2026 (Amazon.com, 30 July 2026). The company posted net sales of $200.60bn, up 20% year on year, and adjusted earnings per share of $1.97, compared with the analyst estimate of $1.82. Faster growth at Amazon Web Services (AWS), partly linked to demand for artificial intelligence (AI), contributed to the result (CNBC, 3 August 2026).
The report pushed the shares to a fresh all-time high on 3 August 2026, marking Amazon's strongest single session since early May. Attention centred on cloud growth and the company's rising capital expenditure, which is expected to reach around $200bn in 2026 (CNBC, 3 August 2026).
Third-party Amazon outlook: record high, higher AI spending
As of 4 August 2026, third-party Amazon share price predictions show a range of 12-month analyst targets. Expectations for AWS growth, advertising revenue and AI-related infrastructure spending underpin many of these projections.
Yahoo Finance consensus
Yahoo Finance reports an average 12-month Amazon price target of $315.20 as of 29 July 2026, with a 'strong buy' consensus rating. The projection assumes continued AWS margin expansion and sustained advertising revenue growth into 2027 (Yahoo Finance, 29 July 2026).
Truist Financial: $350 target
Truist Financial's Youssef Squali projects that Amazon shares could reach $350 within 12 months. He raised his target from $320 on 30 July 2026 and maintained a 'buy' rating. The forecast anticipates further AWS revenue growth linked to expanding AI partnerships through 2027 (Reuters, 30 July 2026).
Investing.com consensus
Investing.com's analyst poll projects an average 12-month Amazon price target of $319.90 as of 31 July 2026. The poll includes forecasts from 61 analysts and carries a 'strong buy' consensus. The forecast assumes continued gains in cloud revenue and operating margins into 2027 (Investing.com, 31 July 2026).
Goldman Sachs: $375 target
Goldman Sachs projects that Amazon shares could reach $375 within 12 months. The bank raised its target from $335 on 31 July 2026 while maintaining a 'buy' rating. Its forecast reflects expectations of sustained cloud and advertising momentum, alongside continued high levels of AI-related capital expenditure through 2027 (MarketScreener, 31 July 2026).
MarketBeat consensus
MarketBeat's coverage of 59 Wall Street analysts shows an average 12-month Amazon price target of $322.56 as of 4 August 2026. Forecasts range from $218 to $400, with a 'moderate buy' consensus. The latest revisions reflect expectations of continued AWS expansion and AI-related demand into 2027 (MarketBeat, 4 August 2026).
Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.
Amazon's latest earnings and upcoming report
Amazon reported second-quarter 2026 results on 30 July 2026, with net sales of $200.60bn, up 20% year on year, and net income of $62.60bn, or $5.75 per diluted share, compared with $18.20bn, or $1.68 per diluted share, a year earlier. Net income included $53.40bn in non-operating, pre-tax other income tied largely to Amazon's investment in Anthropic, while AWS segment sales grew 37% year on year.
For the third quarter of 2026, Amazon guides for net sales of $197bn–$202bn, or 9%–12% year-on-year growth, and operating income of $22.50bn–$26.50bn, up from $17.40bn a year earlier; growth would be nearly 400 basis points higher excluding Prime Day timing effects. The guidance excludes any impact from acquisitions, restructurings, legal settlements or energy derivative remeasurements, and reflects management's expectations as of 30 July 2026, subject to change (Amazon.com, 30 July 2026)
Amazon's next earnings release, covering the third quarter, is estimated for 29 October 2026, though the date remained unconfirmed as of 4 August 2026 (Nasdaq Earnings Calendar, 4 August 2026).
AMZN share price: technical overview
As of 10.55am UTC on 4 August 2026, the AMZN share price remains above its key moving-average cluster on TradingView. The 20-, 50-, 100- and 200-day simple moving averages (SMAs) stand at approximately $246, $247, $243 and $235, respectively. With the share price trading near $279, the stock remains above each of these measures, although moving averages are backward-looking indicators.
The 20-day SMA sits marginally below the 50-day SMA, so a bullish crossover between the two averages has not yet been confirmed. Both remain closely grouped. The nine-period Hull moving average stands near $263, reflecting the recent rise in short-term price action.
Momentum indicators are elevated. The 14-day relative strength index (RSI) is near 72, a level commonly described as overbought, while the 14-day average directional index (ADX) of 22 suggests that a trend may be developing but is not yet firmly established. The stochastic %K near 74 and fast stochastic RSI near 80 also indicate elevated momentum, although no single indicator can determine future price direction.
The nearest classic pivot resistance level, R1, is around $288. A daily close above this level could bring the R2 pivot near $304 into focus. On the downside, the classic pivot point near $257 marks initial support. The 200-day SMA near $235 forms another potential support area, while a move below it could place greater focus on the S1 pivot near $241 (TradingView, 4 August 2026).
This technical analysis is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.
Amazon share price history (2024–2026)
AMZN’s share price has fluctuated considerably over the past two years, influenced by AI infrastructure spending, cloud growth and changing interest-rate expectations.
The shares started August 2024 near $162.86 before falling to an intraday low of $151.70 on 5 April 2025 during a period of tariff-related market volatility. They subsequently recovered.
By early May 2026, AMZN had reached an all-time closing high of $274.99, supported by AWS growth and market expectations surrounding Amazon’s investment in Anthropic. The shares later lost ground, falling to around $226.63 during the period under review and testing the $225–$235 range through late June as sentiment towards the wider technology sector weakened.
Results released on 30 July 2026 prompted another rise. The stock moved from $230.21 to $270.91 in a single session, before reaching an intraday high of $287.23 on 3 August 2026 as Amazon’s market capitalisation crossed $3tn.
AMZN closed at $278.55 on 4 August 2026, around 27.5% higher year to date and approximately 27.3% higher year on year.
Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.
Amazon (AMZN): Capital.com analyst view
Amazon’s share price has recorded sharp fluctuations alongside a broader recovery over the past two years. The stock rebounded from an intraday low of around $151.70 in April 2025 and crossed the $3tn market capitalisation threshold in early August 2026.
The rise coincided with AWS growth, higher advertising revenue and substantial investment in AI infrastructure. Changes in the value of Amazon’s stake in Anthropic also affected reported earnings.
Some analysts view cloud growth and advertising revenue as potential support for future earnings. Others point to the company’s elevated capital expenditure and reliance on AI-related demand. These factors could place pressure on margins or valuation if returns on investment fall short of expectations.
Price movements during 2025 and 2026 also show how quickly sentiment towards interest rates, trade policy and technology spending can change. Although the shares rose after the latest earnings release, that reaction does not indicate how the market will respond to future results. Slower cloud growth, weaker advertising demand or lower AI spending could place pressure on the share price.
Capital.com’s client sentiment for Amazon CFDs
As of 4 August 2026, Capital.com client positioning in Amazon CFDs is weighted towards long positions, with 90.3% of clients long and 9.7% short. This represents a difference of 80.6 percentage points.
The data reflects open positions held by Capital.com clients at the time of publication. It does not indicate future price direction and may change.
Summary – Amazon 2026
- As of 10.55am UTC on 4 August 2026, Amazon traded near $278.60. This placed the shares below Monday’s record high of $286.13 but above the April 2025 low of around $151.70.
- According to TradingView, the price remained above its key moving-average cluster, while the RSI stood near 72. This indicated elevated momentum, although it did not confirm whether the price would continue rising or reverse.
- Recent factors influencing the shares included AWS growth, AI-related infrastructure demand, high capital expenditure and Amazon’s second-quarter results.
Past performance is not a reliable indicator of future results.
FAQ
Who owns the most Amazon shares?
The article does not identify Amazon’s largest individual or institutional shareholder. Ownership levels can change as investors buy or sell shares, while company insiders may also adjust their holdings. To find the latest position, readers should refer to Amazon’s most recent regulatory filings and institutional ownership disclosures. These sources provide a dated snapshot rather than a permanent ranking, so any ownership figures should be checked against the latest available filings.
What is the five-year Amazon share price forecast?
The article focuses on 12-month analyst targets rather than a five-year forecast. The cited projections range from $315–$375, with consensus estimates near $320, but these do not extend to 2031. Longer-term forecasts carry greater uncertainty because they depend on variables such as AWS growth, advertising revenue, AI-related spending, margins, interest rates and wider market conditions. For this reason, five-year projections should be treated as scenarios rather than reliable outcomes.
Is Amazon a good stock to buy?
The article does not assess whether Amazon is a good stock to buy. It outlines factors that may influence the share price, including AWS growth, advertising revenue, AI-related investment and capital expenditure. It also notes risks such as pressure on margins, changing technology spending and shifts in market sentiment. Whether Amazon suits a particular investor depends on their objectives, financial circumstances and risk tolerance. This content does not constitute financial advice.
Could Amazon shares go up or down?
Yes. Amazon shares could move in either direction. The article notes that stronger AWS growth, advertising revenue or returns from AI-related investment could support sentiment. However, slower cloud growth, weaker advertising demand, high capital expenditure or changing interest-rate expectations could place pressure on the price. Technical indicators may highlight possible support and resistance levels, but they cannot predict future movements. Past performance and previous reactions to earnings do not guarantee similar outcomes.
Should I invest in Amazon shares?
The article cannot determine whether you should invest in Amazon shares. That decision depends on your investment goals, time horizon, financial position and ability to accept losses. The page presents analyst forecasts, recent earnings, technical indicators and key risks to support independent research, but none of these factors provides certainty. You may wish to compare Amazon with other assets and consider professional financial advice before making any investment decision.
Can I trade Amazon CFDs on Capital.com?
Yes, you can trade Amazon CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.