Amazon Eyes New Highs on AWS Acceleration and Logistics Expansion

Amazon shares linger near record $265-$273 highs into May 5, fueled by standout Q1 earnings and emerging growth drivers like AWS and a new Supply Chain Services unit. Pre-earnings hype built on AI momentum, culminating in April 29 results that crushed estimates with $181.5B revenue (+17% YoY vs. $177B expected), EPS $2.78 (vs. $1.62), and AWS surging 28% to $37.6B—its fastest growth in 15 quarters—despite $44.2B capex crushing TTM FCF to $1.2B. Analysts stay bullish with targets near $300-$370, citing $20B AI chip run-rate scaling to $80B by 2028 and Q2 guidance of $194B-$199B sales.