Amazon Just Gave Investors a Big Reason to Be Bullish

Amazon is in focus after reporting fiscal Q2 2026 results filed July 30, 2026, with AWS accelerating and driving a bullish outlook. The stock rose 17.98% the day of the report. Revenue reached $200.6 billion, up 19.62%, while operating income increased 43% to $27.46 billion. AWS grew 37% to $42.23 billion, its fastest pace in 18 quarters, and advertising climbed 26% to $19.8 billion. The article cites a 24/7 Wall St. price target of $341.77 for AMZN, implying 31.73% upside from $259.45. Key positives include an AWS backlog of $496 billion and AI-related momentum: Trainium2 is fully subscribed and Bedrock customers spent more in Q2 than in all prior quarters combined.