AWS Backlog Hits $496B, Capex Raised to $220B as Analyst Sees $1 Trillion Cloud Opportunity
AMZN sits 38% above its 52-week low of $196.
Summary
Amazon shares surged over 15% Friday after a massive Q2 beat, but the real story is the staggering AWS backlog—up 150% YoY to $496 billion—and management's view that AWS is now a $1 trillion opportunity. BNP Paribas analyst Nick Jones raised his price target to $345, citing accelerating cloud momentum and better visibility into data-center returns. The company also hiked full-year capex to $220 billion, up from $200 billion, to support AI infrastructure. Q3 guidance came in slightly below consensus, but that's largely due to a Prime Day timing shift; underlying growth remains robust. This follows yesterday's Q2 report showing AWS growth accelerating to 37% and net income of $62.6 billion, but the new backlog and capex figures add fresh conviction to the AI investment thesis.
At the time of this announcement, AMZN was trading at $270.31 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.9T. 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 8 out of 10. Source: Benzinga.