Amazon Stock Surges on Strong AWS Growth

Amazon's stock price surged on Friday after the tech giant reported earnings that exceeded analyst expectations. The company earned $5.75 per share, far above the $1.99 consensus forecast thanks to a boost from its investment in Anthropic.

The e-commerce and cloud computing leader posted $200.6 billion in revenue, up 20% from the same period last year and ahead of analyst forecasts. A key driver of this growth was Amazon Web Services (AWS), which saw sales jump 37% to $42.2 billion, outperforming estimates by nearly $2 billion.

JPMorgan analysts raised their price target for Amazon stock to $365 from $330 following the report, citing the strength of AWS revenue growth. William Blair analysts also noted that AWS growth continues to astound and expect the segment to continue gaining momentum.