Amazon Surges 12% as Q2 Cloud Growth Silences AI Doubts
AMZN sits 35% above its 52-week low of $196 on light trading volume (0.3× avg).
Summary
Amazon shares jumped 12% at the open on Friday, extending the post-earnings rally after Q2 results showed AWS revenue accelerating to 37% growth. The move adds roughly $340 billion in market value and lifts the Nasdaq, offsetting declines in Apple. This follows Thursday's after-hours report where net sales of $200.6B and adjusted EPS of $5.70 crushed consensus, driven by cloud momentum that directly counters recent AI spending concerns. The surge signals strong institutional conviction that Amazon's massive AI infrastructure bets are paying off in revenue, despite the negative free cash flow disclosed in the 10-Q.
At the time of this announcement, AMZN was trading at $264.82 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.8T. The 52-week trading range was $196.00 to $278.56. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.