Amazon, IBD Stock Of The Day, Rides Cloud Momentum To $3 Trillion Milestone

Amazon is highlighted as IBD’s Stock of the Day after regaining momentum above a cup-base buy point. Shares rose more than 1% intraday to around 279, up roughly 19% year to date, after a strong Q2 earnings-driven rally. The article says investors are increasingly focusing on Amazon Web Services, where sales grew 37% year over year, signaling that cloud demand and AI monetization could offset concerns about rising capex. Amazon briefly joined the $3 trillion market cap club, though it later slipped back below that level. Technically, the stock moved back above its 50-day and 21-day moving averages and is near a 278.56 buy point, with a possible high-handle entry near 287.20. Sentiment is positive, but the stock still faces scrutiny over AI spending, competition from Microsoft and Alphabet, and a Q3 comparison that won’t benefit from Prime Day timing.