Amazon Stocks Soar to Record High on Strong Earnings and AWS Growth

Amazon's stock surged 4.4% in afternoon trading to reach $283.54, surpassing its previous high and pushing the company's market value above $3 trillion for the first time.

The e-commerce giant's Q2 2026 results showed net sales of $200.6 billion, up 20% year-over-year, and operating income climbing 43% to $27.5 billion, both exceeding Wall Street consensus estimates.

Amazon Web Services (AWS) posted revenue of $42.2 billion, a 37% year-over-year increase that marks the fastest growth in 18 quarters, with an annualized run rate of $169 billion and a contract backlog of $496 billion.

The strong earnings beat was further fueled by Roth Capital's price target hike to $325 from $300, joining other analysts who have upgraded their targets following Amazon's Q2 results.