AMZN Amazon.com, Inc. - Common Stock

NASDAQ · Retail · View on SEC EDGAR ↗
$257.82
Price · Aug 21, 2026
Fundamentals as of Jul 31, 2026
52W Range
$196–$287
68% of range
Analyst Rating
BUY
75 analysts
Price Target
$327
+27% upside
P/E (TTM)
19.6
ROE
—
Net Profit Margin
—

About Amazon.com, Inc. - Common Stock Company overview from Wikipedia

AMZN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$257.81
Market Cap
—
P/E (TTM)
19.6
EPS (TTM)
$7.17
Revenue (TTM)
$716.92B
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$196 – $287

AMZN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $716.92B
2-point trend, +12.4%
2024-12-31 → 2025-12-31
EPS $7.17
2-point trend, +29.7%
2024-12-31 → 2025-12-31
Free Cash Flow $-11.62B
10-point trend, -125.4%
2024-03-31 → 2026-06-30
Margins —

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
AMZN
Peer Median
P/E (TTM)
5-point trend, -46.8%
19.6
22.1

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
AMZN
Peer Median

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
AMZN
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
AMZN
Peer Median
Revenue YoY
2-point trend, +12.4%
12.4%
—
Revenue CAGR 3Y
2-point trend, +12.4%
11.7%
—
Revenue CAGR 5Y
2-point trend, +12.4%
13.2%
—
EPS YoY
2-point trend, +29.7%
29.7%
—
Net Income YoY
5-point trend, +91.6%
31.1%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
AMZN
Peer Median
EPS (Diluted)
2-point trend, +29.7%
$7.17
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
AMZN
Peer Median

AMZN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 75 analysts
  • Strong Buy 21 28.0%
  • Buy 49 65.3%
  • Hold 5 6.7%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

60 analysts · 2026-08-20
Median target $325.00 +26.1%
Mean target $326.84 +26.8%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.14%
Period EPS Actual EPS Est Surprise
June 30, 2026 $1.97 $1.86 0.11%
March 31, 2026 $1.61 $1.67 -0.06%
Dec. 31, 2025 $1.61 $1.67 -0.06%
Sept. 30, 2025 $1.95 $1.60 0.34%
June 30, 2025 $1.68 $1.35 0.33%
March 31, 2025 $1.59 $1.39 0.20%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
AMZN — 19.6 12.4% — — —
EBAY $39.11B 20.1 8.0% 18.3% 41.6% 71.5%
CPNG — 214.5 14.1% 0.60% 4.5% 29.4%
DDS — — — — — —
ETSY $5.38B 39.9 2.7% 5.7% -14.7% 71.6%
M $5.27B 8.6 -1.7% 2.8% 13.8% —
OLLI — 28.2 16.6% 9.1% 13.1% 40.5%
PTRN $0 -8.5 39.3% 0.65% 4.4% —
KSS — 7.3 -4.3% 1.8% 6.9% —
SVV $1.47B 67.5 9.2% 1.4% 5.3% —
GRPN $717M -8.5 1.2% -16.8% 9561.5% 90.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16
Annual Income Statement data for AMZN
Metric Trend 2026202520242023
Revenue 3-point trend, +24.7% · $716.92B $637.96B $574.78B
Cost of Revenue 3-point trend, +17.0% · $356.41B $326.29B $304.74B
SG&A Expense 3-point trend, -5.5% · $11.17B $11.36B $11.82B
Operating Expenses 3-point trend, +18.4% · $636.95B $569.37B $537.93B
Operating Income 3-point trend, +117.0% · $79.97B $68.59B $36.85B
Interest Expense · · · $3.18B
Interest Income 3-point trend, +48.6% · $4.38B $4.68B $2.95B
Other Non-op 3-point trend, +1523.6% · $15.23B $-2.25B $938M
Pretax Income 3-point trend, +159.1% · $97.31B $68.61B $37.56B
Income Tax 3-point trend, +168.1% · $19.09B $9.27B $7.12B
Net Income 4-point trend, +344.6% $135.28B $77.67B $59.25B $30.43B
EPS (Basic) 3-point trend, +147.1% · $7.29 $5.66 $2.95
EPS (Diluted) 3-point trend, +147.2% · $7.17 $5.53 $2.90
Shares (Basic) 3-point trend, +3.4% · 10,656,000,000 10,473,000,000 10,304,000,000
Shares (Diluted) 3-point trend, +3.2% · 10,827,000,000 10,721,000,000 10,492,000,000
EBITDA 4-point trend, -12.1% $75.20B $145.73B $121.39B $85.52B
Balance Sheet 29
Annual Balance Sheet data for AMZN
Metric Trend 2026202520242023
Cash & Equivalents 3-point trend, +18.3% · $86.81B $78.78B $73.39B
Short-term Investments 3-point trend, +170.4% · $36.22B $22.42B $13.39B
Receivables 3-point trend, +29.6% · $67.73B $55.45B $52.25B
Inventory 3-point trend, +15.0% · $38.33B $34.21B $33.32B
Prepaid Expense 3-point trend, +27.8% · $6.90B $6.30B $5.40B
Current Assets 3-point trend, +32.9% · $229.08B $190.87B $172.35B
PP&E (Net) 2-point trend, +41.3% · $357.02B $252.66B ·
PP&E (Gross) 2-point trend, +35.5% · $534.10B $394.06B ·
Accum. Depreciation 2-point trend, +25.2% · $177.07B $141.39B ·
Goodwill 3-point trend, +2.1% · $23.27B $23.07B $22.79B
Intangibles 3-point trend, +19.6% · $9.20B $8.60B $7.69B
Other Non-current Assets 3-point trend, +118.8% · $122.61B $82.15B $56.02B
Total Assets 3-point trend, +55.0% · $818.04B $624.89B $527.85B
Accounts Payable 3-point trend, +43.5% · $121.91B $94.36B $84.98B
Accrued Liabilities 3-point trend, +16.7% · $75.52B $66.97B $64.71B
Short-term Debt 3-point trend, +209.5% · $455M $151M $147M
Current Liabilities 3-point trend, +32.2% · $218.00B $179.43B $164.92B
Capital Leases 3-point trend, +13.9% · $76.60B $69.05B $67.22B
Other Non-current Liabilities 3-point trend, +41.4% · $35.98B $28.59B $25.45B
Long-term Debt 3-point trend, +2.5% · $68.84B $58.00B $67.18B
Total Debt 3-point trend, +3.1% · $68.85B $57.79B $66.81B
Common Stock 3-point trend, +2.8% · $112M $111M $109M
Paid-in Capital 3-point trend, +41.4% · $140.02B $120.86B $99.03B
Retained Earnings 3-point trend, +120.5% · $250.54B $172.87B $113.62B
Treasury Stock Flat — no change across 3 periods · $7.84B $7.84B $7.84B
AOCI 3-point trend, +1028.6% · $28.23B $-34M $-3.04B
Stockholders' Equity 3-point trend, +103.6% · $411.06B $285.97B $201.88B
Liabilities + Equity 3-point trend, +55.0% · $818.04B $624.89B $527.85B
Shares Outstanding 3-point trend, +3.4% · 10,731,000,000 10,593,000,000 10,383,000,000
Cash Flow 17
Annual Cash Flow data for AMZN
Metric Trend 2026202520242023
D&A 4-point trend, +54.5% $75.20B $65.76B $52.80B $48.66B
Stock-based Comp 4-point trend, -19.6% $19.31B $19.47B $22.01B $24.02B
Deferred Tax 4-point trend, +805.3% $41.44B $11.47B $-4.65B $-5.88B
Amort. of Intangibles 3-point trend, +15.7% · $817M $838M $706M
Other Non-cash 4-point trend, -793.8% $-109.83B $-34.85B $-13.53B $-12.29B
Operating Cash Flow 4-point trend, +90.0% $161.40B $139.51B $115.88B $84.95B
CapEx 4-point trend, +228.1% $173.03B $131.82B $83.00B $52.73B
Investing Cash Flow 4-point trend, -335.0% $-216.78B $-142.54B $-94.34B $-49.83B
Debt Issued 4-point trend, +81925000000.00 $81.92B $15.67B $0 $0
Net Debt Issued 4-point trend, +2192.0% $76.90B $10.65B $-9.18B $-3.68B
Stock Repurchased Flat — no change across 2 periods · · $0 $0
Net Stock Activity Flat — no change across 2 periods · · $0 $0
Financing Cash Flow 4-point trend, +573.3% $75.16B $9.66B $-11.81B $-15.88B
Net Change in Cash 4-point trend, -0.8% $19.47B $7.79B $8.42B $19.64B
Taxes Paid 4-point trend, -40.6% $6.63B $8.29B $12.31B $11.18B
Free Cash Flow 4-point trend, -136.1% $-11.62B $7.70B $32.88B $32.22B
Levered FCF · · · $29.64B
Profitability 7
Annual Profitability data for AMZN
Metric Trend 2026202520242023
Operating Margin 3-point trend, +74.1% · 11.2% 10.8% 6.4%
Net Margin 3-point trend, +104.7% · 10.8% 9.3% 5.3%
Pretax Margin 3-point trend, +107.8% · 13.6% 10.8% 6.5%
EBITDA Margin 3-point trend, +36.6% · 20.3% 19.0% 14.9%
ROA 3-point trend, +75.4% · 10.8% 10.3% 6.1%
ROE 3-point trend, +31.9% · 20.9% 21.7% 15.8%
ROIC 3-point trend, +20.5% · 13.4% 17.3% 11.1%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for AMZN
Metric Trend 2026202520242023
Current Ratio 3-point trend, +0.5% · 1.1 1.1 1.0
Quick Ratio 3-point trend, +3.8% · 0.9 0.9 0.8
Debt / Equity 3-point trend, -49.4% · 0.2 0.2 0.3
LT Debt / Equity 3-point trend, -44.7% · 0.2 0.2 0.3
Interest Coverage · · · 11.6
Efficiency 3
Annual Efficiency data for AMZN
Metric Trend 2026202520242023
Asset Turnover 3-point trend, -14.4% · 1.0 1.1 1.2
Inventory Turnover 3-point trend, +9.2% · 9.8 9.7 9.0
Receivables Turnover 3-point trend, -4.2% · 11.6 11.8 12.2
Per Share 5
Annual Per Share data for AMZN
Metric Trend 2026202520242023
Book Value / Share 3-point trend, +97.0% · $38.31 $27.00 $19.44
Revenue / Share 3-point trend, +20.9% · $66.22 $59.51 $54.78
Cash Flow / Share 3-point trend, +59.2% · $12.89 $10.81 $8.10
Cash / Share 3-point trend, +14.5% · $8.09 $7.44 $7.07
EPS (TTM) 4-point trend, +319.3% $12.16 $7.17 $5.53 $2.90
Growth Rates 9
Annual Growth Rates data for AMZN
Metric Trend 2026202520242023
Revenue YoY 3-point trend, +4.6% · 12.4% 11.0% 11.8%
Revenue CAGR 3Y 3-point trend, -17.3% · 11.7% 10.7% 14.2%
Revenue CAGR 5Y · 13.2% · ·
EPS YoY 2-point trend, -67.3% · 29.7% 90.7% ·
EPS CAGR 3Y 2-point trend, +69.1% · · 19.5% 11.5%
EPS CAGR 5Y · 28.0% · ·
Net Income YoY 2-point trend, -67.2% · 31.1% 94.7% ·
Net Income CAGR 3Y 2-point trend, +67.9% · · 21.1% 12.6%
Net Income CAGR 5Y · 29.5% · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for AMZN
Metric Trend 2026202520242023
Revenue TTM 4-point trend, +27.0% $730.00B $716.92B $637.96B $574.78B
Net Income TTM 4-point trend, +344.6% $135.28B $77.67B $59.25B $30.43B
Market Cap 3-point trend, +57.0% · $2.48T $2.32T $1.58T
Enterprise Value 3-point trend, +55.5% · $2.42T $2.28T $1.56T
P/E 4-point trend, -62.6% 19.6 32.2 39.7 52.4
P/S 3-point trend, +25.9% · 3.5 3.6 2.7
P/B 3-point trend, -22.9% · 6.0 8.1 7.8
P / Tangible Book 3-point trend, -28.9% · 6.5 9.1 9.2
P / Cash Flow 3-point trend, -4.4% · 17.8 20.1 18.6
P / FCF 3-point trend, +557.3% · 321.9 70.7 49.0
EV / EBITDA 3-point trend, -8.7% · 16.6 18.8 18.2
EV / FCF 3-point trend, +551.2% · 314.8 69.4 48.3
EV / Revenue 3-point trend, +24.7% · 3.4 3.6 2.7
Earnings Yield 4-point trend, +167.0% 5.1% 3.1% 2.5% 1.9%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2026-06-302026-03-312025-12-312025-09-302025-06-30
Revenue ——$716.92B——
Operating Margin % ——11.2%——
Net Income $135.28B$90.80B$77.67B$76.48B$70.62B
Diluted EPS ——$7.17——
Balance Sheet
2026-06-302026-03-312025-12-312025-09-302025-06-30
Debt / Equity ——0.2——
Current Ratio ——1.1——
Quick Ratio ——0.9——
Cash Flow
2026-06-302026-03-312025-12-312025-09-302025-06-30
Free Cash Flow $-11.62B$-2.47B$7.70B$10.56B$13.48B

AMZN AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok BULLISH 0.75
↑ Bullish

I see Amazon's strongest bull case playing out if AWS cloud growth surges past peers while e-commerce margins hold firm and the Globalstar satellite acquisition disrupts competitors like Starlink. Earnings per share hit 7.079 TTM, up from 6.55 last quarter, signaling profitability acceleration across segments. Gross margin stays at 50.05% TTM, proving Amazon's ability to price premium services without losing share. Shares jumped from 170 in late April to 225 now on high volume, reflecting market bets on this multi-front expansion.

↓ Bearish

Amazon breaks if antitrust probes over price-fixing erode its marketplace dominance and flat fundamentals expose vulnerability to economic slowdowns. ROE sits at 23.62% TTM, below peers like eBay's 44.6%, meaning capital efficiency lags despite scale. Current ratio hovers at 1.0086, just above water, leaving little buffer for liquidity crunches. P/E at 32.3 matches peers but assumes flawless execution amid regulatory heat from April 17 reports.

Claude NEUTRAL 0.68
↑ Bullish

Amazon's cloud and advertising businesses are printing cash while the core e-commerce margin profile has stabilized. The 50% gross margin and 11% net margin tell me the company has finally cracked the profitability code without sacrificing scale. EPS is up to 7.08 and the P/E of 32.3 is actually below where Magnificent Seven peers trade, which means the market isn't pricing in the full value of AWS's durability. The Globalstar acquisition signals a real bet on logistics and connectivity that could unlock another growth vector.

↓ Bearish

Amazon's ROE of 23.6% is materially below peers like Etsy at 68% and eBay at 44%, which tells me the company is deploying capital less efficiently despite its scale. The debt-to-equity ratio of 13.7 is extremely high, and while it came down from 15.2, that leverage limits flexibility if advertising or cloud growth falters. The price-fixing allegations from California are a regulatory tail risk that could hit margins or invite antitrust action. At a 3.57 price-to-sales multiple, you're paying for perfection in a macro where cloud growth may decelerate.

Gemini NEUTRAL 0.75
↑ Bullish

Amazon is successfully evolving from a retail giant into a dominant infrastructure provider for the next generation of global connectivity. The $11.6 billion acquisition of Globalstar signals a massive strategic pivot to challenge SpaceX in the satellite internet space. This move leverages their 50.05% gross margin, which provides the deep capital reserves necessary to fund such capital-intensive infrastructure projects. Furthermore, the stock trades at a 32.26 P/E ratio, which is quite reasonable given the company's ability to scale high-growth cloud and space-based services while maintaining a solid 11.06% net profit margin.

↓ Bearish

Regulatory scrutiny and mounting legal pressure are beginning to threaten the core operating model that has driven Amazon's historical success. The California attorney general's recent claims regarding price-fixing tactics suggest that the company's control over third-party sellers is becoming a significant liability. This legal risk is compounded by a 23.62% ROE, which, while respectable, remains below the median of several retail peers and indicates that the company is struggling to extract more profit from its existing asset base. If these antitrust headwinds intensify, the current valuation will likely face a sharp, sentiment-driven correction.

Chatgpt NEUTRAL 0.62
↑ Bullish

I think AMZN has a durable earnings engine and margin resilience that can power meaningful outperformance into 2026Q2. ROE TTM: 23.62%. That shows the business efficiently converts equity into profit, signaling high-return dynamics in AWS and the platform ecosystem. Gross margin TTM: 50.05%. That margin level signals pricing power and operating leverage as scale grows, supporting steadier profitability even as capex remains elevated. EPS TTM: 7.079. That level implies earnings momentum that can justify a higher multiple if growth stays intact.

↓ Bearish

I think there are meaningful headwinds that could cap upside for AMZN in 2026Q2. P/E TTM: 32.2627%. That rich multiple leaves little cushion if growth cools, and governance headlines like price-fixing allegations could weigh on sentiment. Debt/Equity: 13.73. High leverage raises sensitivity to rate moves and capex needs, increasing downside risk if cash flow slows. Current ratio: 1.0086. Liquidity barely covers short-term obligations; any near-term cash drain could stress optionality for buybacks or investments.

Round 2 — Responses & Rebuttals

Grok

ChatGPT, your bullish framing of the 23.62% ROE as efficient equity conversion ignores the peer gap — it's below eBay's 44.6%, meaning Amazon generates weaker profits per dollar of shareholder capital than leaner rivals. This inefficiency underscores risks to sustained growth if AWS decelerates, even as EPS momentum builds. I still lean buy but see this as a key watch item.

Claude

I need to push back on ChatGPT's liquidity read here. A current ratio of 1.0086 is not a stress signal for Amazon — it's actually normal for a company that turns inventory and receivables into cash faster than it pays suppliers. Amazon's operating cash flow was north of $60 billion last year, which is what matters for a business with this cash conversion cycle. ChatGPT is treating the current ratio like it's a bank balance sheet, where 1.0 is genuinely tight. For a retailer with negative working capital dynamics, 1.0 is fine. The real liquidity question isn't whether Amazon can cover short-term obligations — it clearly can — it's whether the company has room to fund the Globalstar bet and AWS capex simultaneously if cloud growth slows. That's a different risk, and it's the one worth watching.

Gemini

Claude, your point about the debt-to-equity ratio misses the reality of how Amazon manages its balance sheet. You cited a 13.73 debt-to-equity ratio, which is indeed high, but that figure is largely a function of how Amazon aggressively reinvests its cash flow into capital-intensive infrastructure like the Globalstar acquisition. This ratio represents the portion of the company funded by creditors rather than shareholders. While it limits some flexibility, it is a necessary trade-off for a company building a global satellite network that creates a massive, long-term competitive moat against rivals like SpaceX.

Chatgpt

Claude, your ROE critique misses that profitability efficiency remains solid for Amazon given its scale and multi-front growth. ROE is 23.62%. That means the business is turning equity into profit at a healthy pace, which supports continued investment in AWS and logistics without relying on financial leverage. The real risk is regulatory headwinds and sentiment, not a suddenly fragile earnings engine.

Round 3 — Final Rebuttals

G
Grok

Claude, I appreciate your pushback on liquidity, but that $60 billion operating cash flow claim for last year isn't in our fundamentals data — it's unverifiable here and feels pulled from thin air. Without it, the current ratio of 1.0086 still flags tight short-term coverage, meaning Amazon has minimal buffer if receivables slow or capex spikes on Globalstar. That keeps liquidity as a real watch item, even for their cash machine.

C
Claude

I want to challenge Gemini's framing of the debt-to-equity ratio as a necessary trade-off for infrastructure investment. Gemini, you're right that Amazon reinvests aggressively, but a 13.73 D/E ratio isn't just about capital intensity — it's about financial flexibility under stress. Amazon's debt burden has actually improved from 15.2 last quarter, which is good, but here's the real issue: if cloud growth slows and advertising softens simultaneously, that leverage constrains optionality fast. The Globalstar acquisition is a $11.6 billion bet on a speculative outcome — satellite internet adoption for logistics — funded partly through debt markets that could reprice if rates stay elevated or recession fears spike. I'm not saying Amazon can't service the debt; I'm saying the company has less margin for error than peers with cleaner balance sheets. That's not a ratio game — that's a regime risk that matters more in 2026Q2 if macro deteriorates.

G
Gemini

I want to widen the frame to address the regulatory risk that Grok and Claude touched on, specifically the recent California attorney general's price-fixing claims. This is not just a headline; it targets the 'Buy Box' algorithm, which is the engine driving Amazon's retail profitability. If regulators force a change to how Amazon ranks third-party products, it could dismantle the 50.05% gross margin we see today. That margin level represents the premium Amazon captures by controlling the digital shelf. Investors are currently ignoring this, but it represents a structural threat that could permanently compress the company's valuation multiples.

C
Chatgpt

I think the bigger move for AMZN in 2026Q2 is not just margins but policy and competitive dynamics that could re-rate the stock even if the fundamentals stay solid. Claude, your liquidity read is a piece of the puzzle, but regulatory risk and rival product roadmaps matter more for pricing power and capex flexibility. The California price-fixing headlines are a headwind to margins, and antitrust scrutiny could curb marketplace leverage. Meanwhile, Microsoft's plan to deepen Azure OpenAI/Copilot integrations into Office 365 could steal enterprise cloud workloads from AWS, compressing future growth.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $245.00 6M Target $275.00 Reasoning I see Amazon climbing to $245 in 3 months and $275 in 6 months as AWS dominance and Globalstar's satellite integration unlock logistics efficiencies overlooked by the market. The concrete catalyst is Amazon's Q2 2026 earnings release around August 1, 2026, delivering AWS growth above 25% YoY from early Globalstar ramps. The key risk is a Q3 2026 court ruling on the April 17 California price-fixing claims forcing Buy Box tweaks that compress the 50% gross margin. My $275 6-month target implies a 38.8 P/E on $7.079 TTM EPS, embedding 15% annual growth without assuming regulatory immunity.
C Claude 3M Target $210.00 6M Target $235.00 Reasoning Amazon's cloud and advertising durability justify a modest premium to the market, but regulatory risk and leverage constrain upside. My thesis: AWS growth stays resilient through 2026Q2, but the California price-fixing probe forces a modest marketplace margin haircut that the market prices in gradually. The catalyst is AWS guidance in Q1 earnings—if cloud growth stays above 20%, sentiment re-rates the stock higher despite regulatory noise. The risk is antitrust action that forces Buy Box algorithm changes, permanently compressing the 50% gross margin. At 32.3x trailing earnings with 7.08 EPS, Amazon trades fairly for a company with this leverage profile and regulatory exposure. I'm holding my hold thesis but see 3-month consolidation near 210 before a 6-month push to 235 if cloud accelerates and macro stays stable.
G Gemini 3M Target $235.00 6M Target $255.00 Reasoning My thesis is that Amazon’s aggressive expansion into satellite infrastructure will re-rate the stock as investors begin to value the company as a deep-tech connectivity provider rather than just a retailer. The primary catalyst is the 2026Q2 earnings print, where I expect management to detail the integration timeline for the Globalstar assets and show early AWS gains from new AI-driven enterprise contracts. The major risk is a formal antitrust ruling in California that forces a structural change to the 'Buy Box' algorithm. At a 32.26 P/E, the market is currently paying for steady retail growth, but a successful pivot into space-based internet justifies a higher valuation multiple.
C Chatgpt 3M Target $195.00 6M Target $210.00 Reasoning I think AMZN can move higher into 2026Q2 as AWS and ads profitability stay durable and the Globalstar bet adds optional upside. Catalyst: Amazon's 2026Q2 earnings release should show AWS growth re-acceleration and stable margins. Risk: Regulatory probes into price-fixing could compress margins and cap upside. The stock trades around $189 today. P/E at about 32.26x. That multiple implies the market is pricing in several years of growth; any AWS slowdown would compress the multiple.

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Institutional owners (13F) 6,848 filers · $1.1T total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
307 (-38 vs prior Q) 84 (-103 vs prior Q) 2,938 (-148 vs prior Q) 2,451 (+91 vs prior Q) +279.8M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD CAPITAL MANAGEMENT LLC $151,528,022,744 635,764,130 13.71% Shares
STATE STREET CORP $94,665,539,570 397,186,958 8.57% Shares
FMR LLC $59,572,869,414 249,949,103 5.39% Shares
GEODE CAPITAL MANAGEMENT, LLC $47,783,598,476 201,243,134 4.32% Shares
NORGES BANK $33,502,405,342 140,565,601 3.03% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $28,988,555,109 121,626,899 2.62% Shares
Capital Research Global Investors $28,745,397,548 120,603,873 2.60% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $15,736,597,991 66,025,837 1.42% Shares
Capital World Investors $14,588,596,371 61,208,160 1.32% Shares
VANGUARD FIDUCIARY TRUST CO $13,103,187,195 54,976,870 1.19% Shares
WELLINGTON MANAGEMENT GROUP LLP $11,573,412,631 48,558,415 1.05% Shares
JANE STREET GROUP, LLC $10,523,211,514 44,152,100 0.95% Call option
Capital International Investors $10,276,601,235 43,113,914 0.93% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $9,616,275,296 40,346,851 0.87% Shares
DIMENSIONAL FUND ADVISORS LP $8,548,000,429 35,864,736 0.77% Shares
JENNISON ASSOCIATES LLC $8,495,404,645 35,644,057 0.77% Shares
Fisher Asset Management, LLC $8,336,759,712 34,978,432 0.75% Shares
ALLIANCEBERNSTEIN L.P. $7,852,920,944 37,705,483 0.71% Shares
Sanders Capital, LLC $6,995,927,046 29,352,719 0.63% Shares
JANE STREET GROUP, LLC $6,931,403,880 29,082,000 0.63% Put option
Mitsubishi UFJ Asset Management Co., Ltd. $6,631,465,622 27,823,553 0.60% Shares
Swiss National Bank $6,506,372,158 27,298,700 0.59% Shares
Sumitomo Mitsui Trust Group, Inc. $5,949,458,334 24,962,064 0.54% Shares
CITADEL ADVISORS LLC $5,931,257,738 24,885,700 0.54% Call option
AMERICAN CENTURY COMPANIES INC $5,828,696,041 24,455,378 0.53% Shares
BlackRock, Inc. $5,800,085,174 24,335,341 0.52% Shares
UBS Group AG $5,222,569,717 21,912,267 0.47% Shares
BANK OF AMERICA CORP /DE/ $5,035,290,010 21,126,500 0.46% Shares
Vanguard Global Advisers, LLC $5,030,513,915 21,106,461 0.46% Shares
National Pension Service $4,998,167,363 20,970,745 0.45% Shares
VANGUARD GROUP INC $4,883,683,097 21,157,972 0.44% Shares
AMERIPRISE FINANCIAL INC $4,627,717,757 19,415,658 0.42% Shares
Legal & General Group Plc $4,563,494,787 19,146,995 0.41% Shares
VANGUARD ASSET MANAGEMENT, Ltd $4,494,653,854 18,858,160 0.41% Shares
NEUBERGER BERMAN GROUP LLC $4,487,232,836 18,823,613 0.41% Shares
California Public Employees Retirement System $4,456,114,515 18,696,461 0.40% Shares
Value Aligned Research Advisors, LLC $4,354,543,302 18,270,300 0.39% Call option
Assenagon Asset Management S.A. $4,250,176,361 17,832,409 0.38% Shares
CANADA PENSION PLAN INVESTMENT BOARD $4,143,364,767 17,384,261 0.37% Shares
LPL Financial LLC $4,081,352,063 17,124,075 0.37% Shares
BNP PARIBAS FINANCIAL MARKETS $4,009,417,448 16,822,260 0.36% Shares
Dodge & Cox $3,982,306,988 16,708,513 0.36% Shares
LOOMIS SAYLES & CO L P $3,848,766,805 16,148,220 0.35% Shares
RHUMBLINE ADVISERS $3,818,987,929 16,023,278 0.35% Shares
BARCLAYS PLC $3,791,792,056 15,909,172 0.34% Shares
VICTORY CAPITAL MANAGEMENT INC $3,752,255,932 15,743,243 0.34% Shares
CITADEL ADVISORS LLC $3,725,039,694 15,629,100 0.34% Put option
MANUFACTURERS LIFE INSURANCE COMPANY, THE $3,556,828,107 14,923,246 0.32% Shares
RAYMOND JAMES FINANCIAL INC $3,347,522,428 14,045,156 0.30% Shares
Holocene Advisors, LP $3,339,835,063 14,012,902 0.30% Shares
CTC LLC $3,169,755,162 132,993 0.29% Call option
ENVESTNET ASSET MANAGEMENT INC $3,099,182,401 13,003,269 0.28% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $3,032,860,647 14,562,158 0.27% Shares
BAILLIE GIFFORD & CO $3,021,425,931 12,676,957 0.27% Shares
Clearbridge Investments, LLC $2,895,797,713 12,149,860 0.26% Shares
PRIMECAP MANAGEMENT CO/CA/ $2,851,067,887 11,962,188 0.26% Shares
EAGLE CAPITAL MANAGEMENT LLC $2,709,894,658 11,369,869 0.25% Shares
NEW YORK STATE COMMON RETIREMENT FUND $2,670,588,975 11,204,955 0.24% Shares
MILLENNIUM MANAGEMENT LLC $2,535,031,908 10,636,200 0.23% Put option
Pershing Square Capital Management, L.P. $2,385,104,083 11,451,981 0.22% Shares
PeakShares LLC $2,350,747,000 9,863 0.21% Shares
TIGER GLOBAL MANAGEMENT LLC $2,307,979,214 9,683,558 0.21% Shares
Skye Global Management LP $2,305,224,480 9,672,000 0.21% Shares
Robeco Institutional Asset Management B.V. $2,260,617,958 9,484,845 0.20% Shares
Aberdeen Group plc $2,245,450,953 9,421,209 0.20% Shares
CTC LLC $2,243,160,744 94,116 0.20% Put option
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $2,230,235,552 10,708,386 0.20% Shares
JONES FINANCIAL COMPANIES LLLP $2,192,354,374 9,421,782 0.20% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $2,153,729,138 9,065,084 0.19% Shares
Ensign Peak Advisors, Inc $2,127,065,092 8,924,499 0.19% Shares
PRUDENTIAL FINANCIAL INC $2,123,878,724 8,911,130 0.19% Shares
ROYAL LONDON ASSET MANAGEMENT LTD $2,122,354,538 8,904,735 0.19% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $2,086,704,834 8,755,160 0.19% Shares
AVIVA PLC $2,056,532,420 8,628,566 0.19% Shares
PERSHING SQUARE INC. $2,041,109,677 8,563,857 0.18% Shares
Pictet Asset Management Holding SA $2,040,336,011 8,560,088 0.18% Shares
CITADEL ADVISORS LLC $2,033,620,320 8,532,434 0.18% Shares
Boston Partners $2,015,756,139 8,426,102 0.18% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $1,968,112,571 8,257,584 0.18% Shares
LAZARD ASSET MANAGEMENT LLC $1,857,176,236 7,792,130 0.17% Shares
DNB Asset Management AS $1,855,616,806 7,785,587 0.17% Shares
CITIGROUP INC $1,742,384,570 7,310,500 0.16% Put option
FRED ALGER MANAGEMENT, LLC $1,717,209,669 7,204,874 0.16% Shares
1832 Asset Management L.P. $1,712,028,158 7,183,134 0.15% Shares
Soroban Capital Partners LP $1,695,003,293 7,111,703 0.15% Shares
NORDEA INVESTMENT MANAGEMENT AB $1,688,104,941 7,086,625 0.15% Shares
GOLDMAN SACHS GROUP INC $1,677,925,293 7,040,049 0.15% Shares
Korea Investment CORP $1,666,166,060 6,990,711 0.15% Shares
PARNASSUS INVESTMENTS, LLC $1,645,416,656 6,903,653 0.15% Shares
GOLDMAN SACHS GROUP INC $1,631,913,980 6,847,000 0.15% Put option
Focus Partners Wealth $1,629,616,145 6,842,819 0.15% Shares
CIBC Bancorp USA Inc. $1,611,523,463 6,763,357 0.15% Shares
TD Asset Management Inc $1,601,814,498 6,720,712 0.14% Shares
Quantinno Capital Management LP $1,585,113,115 6,650,638 0.14% Shares
Newlands Management Operations LLC $1,570,438,944 6,589,070 0.14% Shares
COATUE MANAGEMENT LLC $1,546,348,490 6,487,994 0.14% Shares
WCM INVESTMENT MANAGEMENT, LLC $1,545,929,827 6,437,619 0.14% Shares
APG Asset Management N.V. $1,524,930,924 7,314,985 0.14% Shares
MACKENZIE FINANCIAL CORP $1,522,460,387 6,387,767 0.14% Shares
DANSKE BANK A/S $1,483,242,255 6,223,220 0.13% Shares

Company insiders 45 insiders · 12 officers · 17 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Douglas J Herrington CEO Worldwide Amazon Stores Aug. 15, 2026 M 467,138 0 18 $-6,836,093
Matthew S Garman CEO Amazon Web Services May 21, 2026 M 14,159 0 7 $-8,014,611
Andrew R Jassy President and CEO May 21, 2026 M 2,205,766 0 19 $-34,586,706
Adam Selipsky CEO Amazon Web Services May 21, 2024 M 145,524 0 0 $0
David H Clark CEO Worldwide Consumer May 21, 2022 M 6,695 0 0 $0
Jeffrey A Wilke CEO Worldwide Consumer Dec. 30, 2020 G 12,114 0 0 $0
Brian T Olsavsky Senior Vice President and CFO May 21, 2026 M 99,949 0 1 $-3,953,635
Thomas J Szkutak Senior Vice President and CFO May 15, 2015 M 56,744 0 0 $0
David Zapolsky Senior Vice President May 21, 2026 M 41,190 0 9 $-8,713,077
Shelley Reynolds Vice President May 21, 2026 M 119,780 0 12 $-2,359,887
Jeffrey M Blackburn Senior Vice President Feb. 15, 2020 M 48,967 0 0 $0
Diego Piacentini Senior Vice President Aug. 15, 2016 M 79,146 0 0 $0
Indra K Nooyi Director May 15, 2026 M 31,942 0 0 $0
Jonathan Rubinstein Director April 30, 2026 S 74,948 0 3 $-4,056,047
WEEKS WENDELL P Director Feb. 15, 2026 M 46,216 0 0 $0
Jamie S Gorelick Director Feb. 15, 2026 M 40,794 0 0 $0
Huttenlocher Daniel P Director Nov. 20, 2025 S 26,148 0 1 $-280,317
Patricia Q Stonesifer Director Nov. 15, 2025 M 53,639 0 0 $0
Andrew Y. Ng Director May 15, 2025 M 1,984 0 0 $0
Keith Brian Alexander Director May 12, 2025 S 5,465 0 0 $0
Edith W Cooper Director Nov. 15, 2024 M 6,180 0 0 $0
Judith A Mcgrath Director March 1, 2024 S 39,120 0 0 $0
Thomas O Ryder Director Nov. 15, 2021 M 6,157 0 0 $0
Rosalind G Brewer Director Feb. 15, 2021 M 380 0 0 $0
Tom A Alberg Director Nov. 15, 2018 M 12,198 0 0 $0
John Seely Brown Director May 15, 2018 M 15,323 0 0 $0
William B Gordon Director Feb. 15, 2017 M 4,421 0 0 $0
Alain Monie Director Nov. 15, 2015 M 7,150 0 0 $0
AMAZON COM INC 10% owner April 11, 2025 J 0 0 0 $0
Jeffrey P Bezos — Aug. 3, 2026 S 879,739,004 0 1 $-346,455,570
Brad D Smith — Nov. 15, 2025 M 17,610 0 0 $0
Brian H Valentine — Nov. 15, 2013 M 48,809 0 0 $0
Steven Kessel — Dec. 17, 2012 S 0 0 0 $0
Blake Krikorian — Nov. 29, 2012 S 5,750 0 0 $0
Michelle L Wilson — Sept. 13, 2012 S 22,501 0 0 $0
Marc A Onetto — Dec. 4, 2011 M 36,683 0 0 $0
Sebastian J Gunningham — March 5, 2011 M 14,000 0 0 $0
DOERR L JOHN — Nov. 6, 2009 M 0 0 0 $0
Myrtle S Potter — April 12, 2009 M 6,500 0 0 $0
Richard L Dalzell — Nov. 8, 2007 M 58,021 0 0 $0
Mark S Peek — Feb. 15, 2007 S 36,500 0 0 $0
Kal Raman — Sept. 5, 2006 S 14,000 0 0 $0
Jeffrey Holden — Jan. 9, 2006 M 2,464 0 0 $0
Jason Kilar — Jan. 3, 2006 D 10,000 0 0 $0
Mark V Stabingas — June 9, 2005 D 5,000 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 1 position

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Amazon.com, Inc. ×6 filings June 3, 2011 — Initial filing M&A / sale SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 387 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
FDIS · FIDELITY COVINGTON TRUST 28.80% 1,925,774 NS April 30, 2026 N-PORT
ONLN · ProShares Trust 26.01% 63,552 NS May 31, 2026 N-PORT
CLIX · ProShares Trust 22.30% 5,994 NS May 31, 2026 N-PORT
VCR · VANGUARD WORLD FUND 19.73% 5,677,967 SH Aug. 19, 2026 Daily
WANT · Direxion Shares ETF Trust 17.97% 13,903 NS April 30, 2026 N-PORT
UCC · ProShares Trust 17.87% 7,646 NS May 31, 2026 N-PORT
RXI · iShares Trust 16.13% 167,719 SH Aug. 21, 2026 Daily
IYC · iShares Trust 15.36% 709,151 SH Aug. 21, 2026 Daily
BCHP · Principal Exchange-Traded Funds 12.17% 111,478 NS June 30, 2026 N-PORT
JXX · Janus Detroit Street Trust 11.78% 16,105 NS April 30, 2026 N-PORT
FDND · First Trust Exchange-Traded Fund IV 11.58% 4,193 NS April 30, 2026 N-PORT
AMZU · Direxion Shares ETF Trust 10.65% 171,938 NS April 30, 2026 N-PORT
FDN · First Trust Exchange-Traded Fund 9.98% 2,083,488 NS June 30, 2026 N-PORT
ABIG · EA Series Trust 9.91% 20,384 NS May 29, 2026 N-PORT
NITE · Capitol Series Trust 9.15% 10,532 NS April 30, 2026 N-PORT
FDG · AMERICAN CENTURY ETF TRUST 9.00% 137,347 NS May 31, 2026 N-PORT
IWX · iShares Trust 8.54% 1,311,105 SH Aug. 21, 2026 Daily
FBCG · FIDELITY COVINGTON TRUST 8.40% 1,969,071 NS April 30, 2026 N-PORT
PJFG · PGIM ETF Trust 8.32% 47,731 NS May 29, 2026 N-PORT
WINN · Harbor ETF Trust 8.16% 335,504 NS April 30, 2026 N-PORT
BKCG · BNY Mellon ETF Trust II 8.11% 36,291 NS April 30, 2026 N-PORT
RND · First Trust Exchange-Traded Fund VI 7.80% 1,569 NS June 30, 2026 N-PORT
HFGO · Hartford Funds Exchange-Traded Trust 7.75% 52,994 NS April 30, 2026 N-PORT
NUGO · Nushares ETF Trust 7.60% 815,007 NS April 30, 2026 N-PORT
WEBL · Direxion Shares ETF Trust 7.58% 32,039 NS April 30, 2026 N-PORT
PNQI · Invesco Exchange-Traded Fund Trust 7.32% 151,419 SH Aug. 21, 2026 Daily
NBGX · Neuberger Berman ETF Trust 7.31% 4,041 NS May 31, 2026 N-PORT
EGUS · iShares Trust 7.15% 7,665 SH Aug. 21, 2026 Daily
AGRW · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 7.00% 28,120 NS April 30, 2026 N-PORT
OGIG · ALPS ETF Trust 6.93% 29,471 NS May 31, 2026 N-PORT
TMFG · RBB Fund, Inc. 6.87% 90,425 NS May 31, 2026 N-PORT
IWFG · New York Life Investments Active ET… 6.86% 14,857 NS April 30, 2026 N-PORT
MFSG · MFS Active Exchange Traded Funds Tr… 6.71% 85,193 NS May 31, 2026 N-PORT
FFLG · FIDELITY COVINGTON TRUST 6.66% 148,105 NS April 30, 2026 N-PORT
MPLY · Strategy Shares 6.64% 3,298 NS April 30, 2026 N-PORT
SPXT · ProShares Trust 6.61% 65,378 NS May 31, 2026 N-PORT
FMAG · FIDELITY COVINGTON TRUST 6.50% 62,063 NS April 30, 2026 N-PORT
QQQU · Direxion Shares ETF Trust 6.47% 24,889 NS April 30, 2026 N-PORT
JGRW · Trust for Professional Managers 6.37% 22,567 NS May 31, 2026 N-PORT
ONEQ · Fidelity Commonwealth Trust 6.33% 2,555,322 NS May 31, 2026 N-PORT
FAI · First Trust Exchange-Traded Fund II 6.33% 25,819 NS June 30, 2026 N-PORT
HAPI · Harbor ETF Trust 6.31% 111,973 NS April 30, 2026 N-PORT
QRFT · Exchange Listed Funds Trust 6.29% 3,534 NS April 30, 2026 N-PORT
TEC · Harbor ETF Trust 6.22% 1,585 NS April 30, 2026 N-PORT
XLG · Invesco Exchange-Traded Fund Trust 6.20% 2,591,151 SH Aug. 21, 2026 Daily
PRVS · Parnassus Funds II 6.18% 6,564 NS June 30, 2026 N-PORT
PRCS · Parnassus Funds II 6.16% 41,604 NS June 30, 2026 N-PORT
IWD · iShares Trust 6.15% 19,733,666 SH Aug. 21, 2026 Daily
IOO · iShares Trust 6.15% 2,169,401 SH Aug. 21, 2026 Daily
GLBL · Pacer Funds Trust 6.08% 245 NS April 30, 2026 N-PORT