Amazon Stock Stuck at $258 Amid AWS Momentum

Amazon's stock price has been stuck at $258.45 on Binance, hovering near its lower Bollinger Band. Despite this, analysts believe the momentum behind Amazon Web Services (AWS) makes it difficult to ignore the bull case for the company.

The paradox facing traders is that Amazon delivered a 'home run' quarter with Q2 2026 revenue increasing by 19.6% year-over-year to $200.6 billion, while AWS posted 36.7% growth in quarterly revenue to $42.2 billion. Operating income was up 43% YoY at $27.5 billion, and net income exploded to $62.6 billion due to Amazon's Anthropic investment gains.

The macro setup also favors Amazon, with the company running a $220 billion-plus capex program in 2026 focused on AI data centers and custom silicon. Andy Jassy confirmed that AWS demand is outstripping what the company can build, with the 'lion's share' of 2027 compute capacity already reserved.