Vulcan Value Partners Backs Amazon.com Inc's Leo Satellite Capex Surge at $255

Vulcan Value Partners' Q1 2026 letter spotlights Amazon.com Inc as a top holding, praising AWS growth (+24%), advertising (+22%), and a 50% capex jump to $200 billion for Leo satellite service amid positive market reaction. This builds on April 22's Globalstar acquisition at $90/share to fast-track LEO direct-to-device rollout by 2028, with Loop Capital's Buy rating at $360 PT citing retail margin relief and AWS acceleration. AMZN closed April 22 at $255.36, up 23.04% in one month, 36.89% over 52 weeks, with $2.75 trillion market cap.