Amazon: The Bull Case Survived Earnings, The Strong Buy Did Not

The article argues a bullish case for Amazon (AMZN), driven by accelerating monetization of AI via AWS. The author upgraded AMZN to a Strong Buy and says the market has underappreciated AWS’s ability to rapidly convert AI demand into revenue, supporting a re-rating of the stock. AMZN shares have risen roughly 30% since the author’s prior note and have outperformed the S&P 500 as investors price in Amazon’s large-scale AI infrastructure buildout. The piece frames this as a durable earnings catalyst rather than a short-term trade, implying continued upside as AI-related infrastructure and revenue gains are increasingly reflected in the stock price.