AMZN Rises to $246 on AWS Summit and Prime Day Optimism

Amazon shares advanced to $246.43 by June 16, rebounding from the $241.35 close on June 11 as easing geopolitical tensions, the upcoming AWS Summit New York, and Prime Day (June 23-26) lifted sentiment. The move follows an 11.9% monthly decline triggered by investor concerns over the $200 billion 2026 capex plan that compressed trailing free cash flow 95% to $1.2 billion. Despite the pullback, Q1 AWS revenue accelerated 28% to $37.6 billion with Graviton chips handling 98% of workloads and Trainium growing at triple-digit rates; analysts maintain Outperform ratings with targets of $312-$333, citing structural tailwinds from 80% offline global retail and 85% on-premise IT spend.