Amazon Stock Holds Near $238 as Prime Day Pull-Forward Meets AWS Price Hikes

Amazon shares stabilized around $238 after a volatile week driven by record Prime Day results and AWS pricing power. The four-day event delivered $26.4 billion in U.S. online spending, up 9.3% year over year, with AI-driven traffic surging 98.3% and converting 50.7% better than non-AI sessions. Earlier forecasts of $26.3 billion were exceeded despite concerns that $7–8 billion of demand was pulled forward from Q3. AWS announced a 20% price increase on select GPU capacity blocks effective July 1, reinforcing cloud momentum. Analysts reaffirmed Buy ratings with targets near $310, viewing the combination of retail strength and AI monetization as supportive for the second half.