Amazon recently surpassed Walmart to become the world's most valuable company as measured by revenue. Walmart is still a powerful giant in the retail space. Walmart is a strong company, but it also carries a premium valuation.

Amazon Q1 shows AWS revenue up 28% and $364B backlog as AI demand rises—while free cash flow dips on heavy CapEx.

Amazon said property and equipment expenses in the first quarter reached $44.2 billion, which was above Wall Street's projected $43.6 billion, according to FactSet. Meanwhile, its free cash flow for the past twelve months fell to $1.2 billion, a 95% decrease year over year, primarily because of its AI investments, the company said.

Amazon (AMZN) will report its first quarter earnings alongside rivals Google (GOOG, GOOGL), Meta (META), and Microsoft (MSFT) on Wednesday, with investors looking for more signs that the company’s massive artificial intelligence spending is paying off.

BofA raises Amazon stock price target to $310 after earnings beat, citing stronger AWS growth and rising AI demand outlook

Quick Read Amazon (AMZN) reported Q1 EPS of $2.78, crushing the $1.73 estimate, with revenue at $181.5B (up 16.61%), AWS reaccelerating to 28% growth (its fastest pace in 15 quarters), and custom chips reaching a $20B run rate with triple-digit growth.

Amazon Web Services growth accelerated to 28% in the first quarter — its fastest pace in nearly four years — pushing Amazon's results past Wall Street's expectations and validating, at least for now,

Amazon (NASDAQ: AMZN) usually isn't the first company you think of when it comes to artificial intelligence (AI) stocks, but I think it should be. While most investors focus on Amazon's commerce and delivery business,

Third-party sellers accounted for 60% of paid units sold on Amazon in Q1 2026, down from 61% in Q4 2025 and 62% the quarter before that. It's the first time the metric has fallen for two consecutive quarters since Amazon began breaking it out in its quarterly reports in 2004.

April 2026 produced a striking four-way split across U.S. e-commerce stocks despite a shared consumer backdrop. Etsy (NASDAQ:ETSY | ETSY Price Prediction) led the group with a 29% gain, narrowly edging out Amazon (NASDAQ:AMZN) at 27%.

The update, which included a 17% year-over-year increase in sales and a 30% increase in operating income, was certainly a boon for Amazon stock, which jumped after the report. But there was important news in there that every artificial intelligence (AI) investor should pay attention to.