{"id":7249,"date":"2026-08-01T15:35:41","date_gmt":"2026-08-01T13:35:41","guid":{"rendered":"https:\/\/mumak.me\/?p=7249"},"modified":"2026-08-01T23:19:56","modified_gmt":"2026-08-01T21:19:56","slug":"valuation-analysis-amazon-com-inc","status":"publish","type":"post","link":"https:\/\/mumak.me\/en\/research-insights\/valuation-analysis\/valuation-analysis-amazon-com-inc\/","title":{"rendered":"Valuation Analysis: Amazon.com, Inc."},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7249\" class=\"elementor elementor-7249 elementor-7248\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab0bcff e-flex e-con-boxed e-con e-parent\" data-id=\"ab0bcff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6fc547c e-con e-atomic-element e-div-block-base e-6fc547c-de8a3ea \" data-id=\"6fc547c\" 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d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-d05221a e-con e-atomic-element e-div-block-base e-d05221a-ef19419 \" data-id=\"d05221a\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"d05221a\" data-e-type=\"e-div-block\" data-id=\"d05221a\">\n    \t\t\t<h4 data-interaction-id=\"94a3f96\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"94a3f96\">Amazon.com, Inc.<\/h4>\n\t\t\t\t<div class=\"elementor-element elementor-element-46c9410 elementor-widget elementor-widget-rating\" data-id=\"46c9410\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"rating.default\">\n\t\t\t\t\t\t\t<div class=\"e-rating\" itemtype=\"https:\/\/schema.org\/Rating\" itemscope=\"\" itemprop=\"reviewRating\">\n\t\t\t<meta itemprop=\"worstRating\" content=\"0\">\n\t\t\t<meta itemprop=\"bestRating\" content=\"5\">\n\t\t\t<div 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data-interaction-id=\"a2e5b6c\" class=\"e-a2e5b6c-f5c6f5c rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"a2e5b6c\">Analysis Result: 4 out of 5 MUMAKS<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-7cecee3 elementor-widget elementor-widget-text-editor\" data-id=\"7cecee3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"635\" data-end=\"947\">Amazon has developed from an online retailer into one of the world\u2019s most diversified technology companies. Its business model combines a leading e-commerce platform with logisticsinfrastructure, subscription services, digital advertising and Amazon Web Services, or AWS. <\/p><p data-start=\"949\" data-end=\"1245\">The latest quarterly results demonstrate the increasing importance of cloud computing and artificial intelligence to Amazon\u2019s growth. In the second quarter of 2026, net sales increased by 20% to USD 200.6 billion, while operating income rose by 43% to USD 27.5 billion. <\/p><p data-start=\"1247\" data-end=\"1511\">Amazon&#8217;s market capitalization has risen to around <strong data-start=\"1296\" data-end=\"1312\">$3.0 trillion<\/strong>. This reflects the market&#8217;s renewed confidence in the company&#8217;s cloud, AI, and retail business following the latest results. <\/p><h2>Rating<\/h2><h3>Geopolitics<\/h3><h4><b>Assessment<\/b><\/h4><p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1548\" data-end=\"1905\">Amazon is active worldwide with its online marketplaces, cloud infrastructure, logistics network, and digital services. This international presence opens up significant growth opportunities, but at the same time exposes the company to <strong data-start=\"1800\" data-end=\"1900\">trade conflicts, varying regulatory requirements, and geopolitical tensions<\/strong>. <\/p><p data-start=\"1907\" data-end=\"2333\">The retail business depends on a complex global network of dealers, suppliers, and manufacturers. A significant portion of the products offered via Amazon marketplaces are manufactured in Asia, particularly in China. Changes in tariffs, import regulations, or international trade relations can therefore influence product prices, seller profitability, and consumer demand.  <\/p><p data-start=\"2335\" data-end=\"2622\">At the same time, AWS has developed into a critical infrastructure for companies and public institutions worldwide. Governments increasingly view cloud computing, artificial intelligence, and data storage as <strong data-start=\"2560\" data-end=\"2621\">strategically important economic and technological sectors<\/strong>. <\/p><h5 data-section-id=\"1rg8syy\" data-start=\"2624\" data-end=\"2635\">Opportunities<\/h5><ul data-start=\"2637\" data-end=\"3092\"><li data-section-id=\"g7g4ku\" data-start=\"2637\" data-end=\"2742\">The growing demand for <strong data-start=\"2668\" data-end=\"2697\">sovereign cloud solutions<\/strong> opens up additional growth opportunities.<\/li><li data-section-id=\"naswsu\" data-start=\"2743\" data-end=\"2817\">Amazon can further expand its data center capacities geographically.<\/li><li data-section-id=\"pqi094\" data-start=\"2818\" data-end=\"2965\">Investments in U.S. logistics, cloud infrastructure, and semiconductor development can reduce dependence on external technology providers.<\/li><li data-section-id=\"1vwvagk\" data-start=\"2966\" data-end=\"3092\">Proprietary AI chips such as <strong data-start=\"2988\" data-end=\"3015\">Trainium and Inferentia<\/strong> could reduce dependence on third-party providers in the semiconductor sector.<\/li><\/ul><h5 data-section-id=\"1x6f6cn\" data-start=\"3094\" data-end=\"3105\">Risks<\/h5><ul data-start=\"3107\" data-end=\"3633\"><li data-section-id=\"1n9c0sv\" data-start=\"3107\" data-end=\"3214\">Tariffs and trade restrictions could increase product costs and weaken consumer demand.<\/li><li data-section-id=\"wifb9e\" data-start=\"3215\" data-end=\"3313\">Tensions between the U.S. and China could affect third-party sellers and supply chains.<\/li><li data-section-id=\"13j7wz5\" data-start=\"3314\" data-end=\"3497\">Data sovereignty requirements could force AWS to set up separate infrastructures and operating structures in individual countries. This would increase costs and complexity. <\/li><li data-section-id=\"17x57nb\" data-start=\"3498\" data-end=\"3633\">International conflicts or disruptions in transportation could strain Amazon&#8217;s logistics network, delivery times, and operating costs.<\/li><\/ul><p data-start=\"3646\" data-end=\"3865\"><strong data-start=\"3646\" data-end=\"3865\">Key takeaway: <\/strong>Amazon&#8217;s <strong>global scale<\/strong> and <strong>growing cloud infrastructure<\/strong> give the company high resilience. However, trade conflicts and technological restrictions remain significant geopolitical risks. <\/p><p><b>MUMAK.me Evaluation Phase 1: positive = 1 MUMAK<\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-247c04b e-con e-atomic-element e-div-block-base e-247c04b-4ef77fa \" data-id=\"247c04b\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"247c04b\" data-e-type=\"e-div-block\" data-id=\"247c04b\">\n    <div class=\"elementor-element elementor-element-1e44b73 e-con e-atomic-element e-div-block-base e-1e44b73-5ba3c89 \" data-id=\"1e44b73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"1e44b73\" data-e-type=\"e-div-block\" data-id=\"1e44b73\">\n    \t\t\t<div class=\"e-6f1b4aa-81e4561 e-svg-base\" data-interaction-id=\"6f1b4aa\" data-e-type=\"widget\" data-id=\"6f1b4aa\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-3118ddb e-con e-atomic-element e-div-block-base e-3118ddb-d3c0dd8 \" data-id=\"3118ddb\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"3118ddb\" data-e-type=\"e-div-block\" data-id=\"3118ddb\">\n    \t\t\t<h4 data-interaction-id=\"cb879e1\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"cb879e1\">Amazon.com, Inc.<\/h4>\n\t\t<div class=\"elementor-element elementor-element-4b06a6b e-con e-atomic-element e-div-block-base e-4b06a6b-0a2e697 \" data-id=\"4b06a6b\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"4b06a6b\" data-e-type=\"e-div-block\" data-id=\"4b06a6b\">\n    \t\t\t<div class=\"e-057b20f-ce1a012 e-svg-base\" data-interaction-id=\"057b20f\" data-e-type=\"widget\" data-id=\"057b20f\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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The consumer business combines classic online retail with the marketplace for third-party sellers, Prime memberships, and one of the world&#8217;s largest logistics networks. Although online retail continues to provide the largest share of revenue, an increasing portion of profitability comes from higher-margin business areas such as <strong data-start=\"735\" data-end=\"814\">Amazon Web Services (AWS), digital advertising, and marketplace services<\/strong>.  <\/p><p data-start=\"817\" data-end=\"1011\">AWS continues to be one of the world&#8217;s leading cloud providers. In the second quarter of 2026, revenue rose by <strong data-start=\"925\" data-end=\"933\">37%<\/strong>, marking the <strong data-start=\"961\" data-end=\"1010\">strongest growth in the past 18 quarters<\/strong>. <\/p><p data-start=\"1013\" data-end=\"1318\">At the same time, competition remains intense. In the cloud business, Amazon competes primarily with <strong data-start=\"1109\" data-end=\"1128\">Microsoft Azure<\/strong> and <strong data-start=\"1133\" data-end=\"1149\">Google Cloud<\/strong>. In e-commerce, competitors include <strong data-start=\"1186\" data-end=\"1219\">Walmart, Alibaba, Temu, Shein<\/strong>, and numerous regional online marketplaces.  <\/p><h5>Valuation Comparison<\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-109bfcc elementor-widget elementor-widget-Table\" data-id=\"109bfcc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Amazon 2026e<\/th><th class=\"elementor-inline-editing elementor-repeater-item-494d595\"   >Industry Average*<\/th><th class=\"elementor-inline-editing elementor-repeater-item-040e851\"   >Rating<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Key Figure\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>P\/E Ratio<\/b><\/td><td data-label=\"Amazon 2026e\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" >23.7x<\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-4749714 td-content-type-default\" >approx. 24\u201328x<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-4ab39d1 td-content-type-default\" >Stronger<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>EBIT Margin<\/b><\/td><td data-label=\"Amazon 2026e\"   class=\"elementor-repeater-item-b92892f td-content-type-default\" >approx. 13%<\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-2cd1740 td-content-type-default\" >approx. 20\u201327%<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-2291d8d td-content-type-default\" >Weaker<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Net margin  <\/b><\/td><td data-label=\"Amazon 2026e\"   class=\"elementor-repeater-item-9492819 td-content-type-default\" >14,7 %<\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-8214b14 td-content-type-default\" >approx. 17\u201322%<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-b07cd92 td-content-type-default\" >Weaker<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-6f870ed td-content-type-default\" ><b>Revenue Growth<\/b><\/td><td data-label=\"Amazon 2026e\"   class=\"elementor-repeater-item-1c7f62f td-content-type-default\" >approx. 15\u201317%<\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-b58719b td-content-type-default\" >approx. 10\u201314%<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-c2eaaef td-content-type-default\" >Stronger<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c43004 elementor-widget elementor-widget-text-editor\" data-id=\"9c43004\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1695\" data-end=\"1918\"><em>*Peer Group: Microsoft, Alphabet, Meta Platforms, Alibaba. Source: MarketScreener Consensus Estimates. <\/em><\/p><h5 data-section-id=\"bzcl2h\" data-start=\"1920\" data-end=\"1930\">Opportunities<\/h5><ul data-start=\"1932\" data-end=\"2918\"><li data-section-id=\"1f4wjcf\" data-start=\"1932\" data-end=\"2061\">The ongoing shift of enterprise applications to the cloud offers AWS significant long-term growth potential.<\/li><li data-section-id=\"vzdk5s\" data-start=\"2062\" data-end=\"2189\">Generative artificial intelligence increases the demand for computing power, data storage, databases, and AI semiconductors.<\/li><li data-section-id=\"le8sck\" data-start=\"2190\" data-end=\"2369\">The self-developed AI chips <strong data-start=\"2225\" data-end=\"2237\">Trainium<\/strong> and <strong data-start=\"2242\" data-end=\"2256\">Inferentia<\/strong> could lower the costs of AI applications and reduce dependence on external semiconductor manufacturers.<\/li><li data-section-id=\"1txmksk\" data-start=\"2370\" data-end=\"2507\">The advertising business benefits from Amazon&#8217;s ability to link advertising directly to customer purchasing behavior on its platforms.<\/li><li data-section-id=\"1hn5qmp\" data-start=\"2508\" data-end=\"2639\">Marketplace services for third-party sellers generate attractive fee income without Amazon having to own the goods itself.<\/li><li data-section-id=\"47mest\" data-start=\"2640\" data-end=\"2788\"><strong data-start=\"2642\" data-end=\"2651\">Prime<\/strong> strengthens customer loyalty and combines shopping, entertainment, fast delivery, and subscription services in an integrated ecosystem.<\/li><li data-section-id=\"1agggmt\" data-start=\"2789\" data-end=\"2918\">Automation and robotics can further increase logistics efficiency and lower costs per order in the long term.<\/li><\/ul><h5 data-section-id=\"1dtrcys\" data-start=\"2920\" data-end=\"2930\">Risks<\/h5><ul data-start=\"2932\" data-end=\"3433\"><li data-section-id=\"asari0\" data-start=\"2932\" data-end=\"3022\">Competition in the cloud business is intensifying through Microsoft Azure and Google Cloud.<\/li><li data-section-id=\"d6zxem\" data-start=\"3023\" data-end=\"3139\">The massive expansion of AI infrastructure requires high investments and weighs on free cash flow in the short term.<\/li><li data-section-id=\"hfkohv\" data-start=\"3140\" data-end=\"3265\">Aggressive competitors in the low-price segment could increase pressure on prices, seller fees, and marketing expenses.<\/li><li data-section-id=\"4mpn7n\" data-start=\"3266\" data-end=\"3433\">The rapid development of AI technology carries the risk that current investments in data centers and semiconductors may lose competitiveness more quickly.<\/li><\/ul><p data-start=\"3445\" data-end=\"3712\"><strong data-start=\"3445\" data-end=\"3712\">Key takeaway: <\/strong>With a strong position in <strong>cloud computing<\/strong>, <strong>artificial intelligence<\/strong>, <strong>digital advertising<\/strong>, and <strong>e-commerce<\/strong>, Amazon has several long-term growth drivers. However, intense competition remains one of the industry&#8217;s greatest challenges. <\/p><p><b><span data-contrast=\"none\">MUMAK.me Phase 2 Rating: neutral = 0 MUMAK<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-65e8a73 e-con e-atomic-element e-div-block-base e-65e8a73-014d5e9 \" data-id=\"65e8a73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"65e8a73\" data-e-type=\"e-div-block\" data-id=\"65e8a73\">\n    <div class=\"elementor-element elementor-element-f7619be e-con e-atomic-element e-div-block-base e-f7619be-23722f2 \" data-id=\"f7619be\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"f7619be\" data-e-type=\"e-div-block\" data-id=\"f7619be\">\n    \t\t\t<div class=\"e-5467c68-db40dfd e-svg-base\" data-interaction-id=\"5467c68\" data-e-type=\"widget\" data-id=\"5467c68\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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font-size: 2rem;\">Fundamentals<\/span><\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6daebec elementor-widget elementor-widget-text-editor\" data-id=\"6daebec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4>Assessment<\/h4><p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"41\" data-end=\"354\">Amazon has once again delivered an <strong data-start=\"63\" data-end=\"98\">exceptionally strong quarter<\/strong>. Growth accelerated across almost all key business areas. Revenue rose by <strong data-start=\"218\" data-end=\"245\">20% to $200.6 billion<\/strong>, while the operating result increased by <strong data-start=\"281\" data-end=\"307\">43% to $27.5 billion<\/strong>.  <\/p><h5 data-section-id=\"1hq06bd\" data-start=\"356\" data-end=\"401\">Revenue Development by Business Segment<\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-296aca3 elementor-widget elementor-widget-Table\" data-id=\"296aca3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Segment<\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Q2 2026<\/th><th class=\"elementor-inline-editing elementor-repeater-item-7555826\"   >Q2 2025<\/th><th class=\"elementor-inline-editing elementor-repeater-item-a93366f\"   >Change<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Segment\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>Online Stores<\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" ><b>$70.4 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-9ead601 td-content-type-default\" >$61.5 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-ae9250a td-content-type-default\" ><b>+15 %<\/b><\/td><\/tr><tr><td data-label=\"Segment\"   class=\"elementor-repeater-item-eb5fb37 td-content-type-default\" ><b>Physical Stores<\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-b2ebbcd td-content-type-default\" ><b>$5.8 bn<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-4c55808 td-content-type-default\" >$5.6 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-5783f17 td-content-type-default\" ><b>+4 %<\/b><\/td><\/tr><tr><td data-label=\"Segment\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>Third-Party Seller Services <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-74e75c0 td-content-type-default\" ><b>USD 46.8 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-2e81cbf td-content-type-default\" >$40.3 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-22cb8b1 td-content-type-default\" ><b>+16 %<\/b><\/td><\/tr><tr><td data-label=\"Segment\"   class=\"elementor-repeater-item-8c6bf1e td-content-type-default\" ><b>Subscription Services <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-1b3f44c td-content-type-default\" ><b>$13.7 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-00ac5ba td-content-type-default\" >$12.2 billion\n<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-ae55006 td-content-type-default\" ><b>+12 %<\/b><\/td><\/tr><tr><td data-label=\"Segment\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Advertising Services <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-5197e42 td-content-type-default\" ><b>$19.8 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-852dabb td-content-type-default\" >$15.7 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-60be6c3 td-content-type-default\" ><b>+26 %<\/b><\/td><\/tr><tr><td data-label=\"Segment\"   class=\"elementor-repeater-item-3b46120 td-content-type-default\" ><b>AWS  <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-c894c06 td-content-type-default\" ><b>$42.2 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-9d17ccb td-content-type-default\" >$30.9 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-8f90c86 td-content-type-default\" ><b>+37 %<\/b><\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af0b260 elementor-widget elementor-widget-text-editor\" data-id=\"af0b260\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"893\" data-end=\"966\"><em>Source: Amazon Q2 2026 Results.<\/em><\/p><p data-start=\"968\" data-end=\"1298\">Although online retail continues to provide the largest revenue contribution, high-margin business areas are becoming increasingly important. <strong data-start=\"1110\" data-end=\"1167\">AWS increased its revenue by 37% to $42.2 billion<\/strong>, recording the highest growth of all segments. At the same time, the advertising business grew by <strong data-start=\"1268\" data-end=\"1294\">26% to $19.8 billion<\/strong>. <\/p><p data-start=\"1300\" data-end=\"1619\">The long-term orientation is also clear: Amazon increased its investment planning for 2026 to <strong data-start=\"1403\" data-end=\"1419\">$220 billion<\/strong> to further expand AI infrastructure and cloud capacities. Despite these record investments, the company was able to further improve its profitability. <\/p><h5>Financial performance<\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0cb027 elementor-widget elementor-widget-Table\" data-id=\"e0cb027\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Metric <\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Q2 2026<\/th><th class=\"elementor-inline-editing elementor-repeater-item-7555826\"   >Q2 2025<\/th><th class=\"elementor-inline-editing elementor-repeater-item-a93366f\"   >Change<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Metric\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>Revenue<\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" ><b>$200.6 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-9ead601 td-content-type-default\" >$167.7 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-ae9250a td-content-type-default\" ><b>+20 %<\/b><\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>Operating Result <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-74e75c0 td-content-type-default\" ><b>$27.5 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-2e81cbf td-content-type-default\" >$19.2 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-22cb8b1 td-content-type-default\" ><b>+43 %<\/b><\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-8c6bf1e td-content-type-default\" ><b>Net profit <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-1b3f44c td-content-type-default\" ><b>$62.6 billion<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-00ac5ba td-content-type-default\" >$18.2 billion<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-ae55006 td-content-type-default\" ><b>+245 %<\/b><\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Diluted EPS  <\/b><\/td><td data-label=\"Q2 2026\"   class=\"elementor-repeater-item-5197e42 td-content-type-default\" ><b>$5.75<\/b><\/td><td data-label=\"Q2 2025\"   class=\"elementor-repeater-item-852dabb td-content-type-default\" >$1.68<\/td><td data-label=\"Change\"   class=\"elementor-repeater-item-60be6c3 td-content-type-default\" ><b>+242 %<\/b><\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7013132 elementor-widget elementor-widget-text-editor\" data-id=\"7013132\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1998\" data-end=\"2071\"><em>Source<strong data-start=\"1998\" data-end=\"2009\">:<\/strong> Amazon Q2 2026 Results.<\/em><\/p><h5 data-section-id=\"sy72cw\" data-start=\"2073\" data-end=\"2100\">Historical Development<\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c8133e1 e-con e-atomic-element e-div-block-base image-container \" data-id=\"c8133e1\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"c8133e1\" data-e-type=\"e-div-block\" data-id=\"c8133e1\">\n    \t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-scaled.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"6e7a07f\"\n\t><img fetchpriority=\"high\" decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"6e7a07f\" id=\"7270\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-1024x429.png\" width=\"800\" height=\"335\" srcset=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-1024x429.png 1024w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-300x126.png 300w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-768x321.png 768w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-1536x643.png 1536w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_-Finanzdaten-2048x857.png 2048w\" alt=\"Amazon_ Financial Data\"\/>\t<\/a>\t\t\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-b77bb0f elementor-widget elementor-widget-text-editor\" data-id=\"b77bb0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"2102\" data-end=\"2178\">The historical business development shows a clear long-term trend:<\/p><ul data-start=\"2180\" data-end=\"2448\"><li data-section-id=\"f8krcm\" data-start=\"2180\" data-end=\"2218\"><strong data-start=\"2182\" data-end=\"2218\">Continuously rising revenues<\/strong><\/li><li data-section-id=\"1yqxh55\" data-start=\"2219\" data-end=\"2256\"><strong data-start=\"2221\" data-end=\"2256\">Steadily growing profitability<\/strong><\/li><li data-section-id=\"1n9u91c\" data-start=\"2257\" data-end=\"2300\"><strong data-start=\"2259\" data-end=\"2300\">Increasing operating and net margins<\/strong><\/li><li data-section-id=\"13vfh7l\" data-start=\"2301\" data-end=\"2448\"><strong data-start=\"2303\" data-end=\"2387\">The transformation from an online retailer to a highly profitable technology platform<\/strong> is becoming increasingly evident.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5964c06 e-con e-atomic-element e-div-block-base image-container \" data-id=\"5964c06\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"5964c06\" data-e-type=\"e-div-block\" data-id=\"5964c06\">\n    \t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_Voraussichtliche-Gewinn-und-Verlustrechnung.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"7d6afb0\"\n\t><img decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"7d6afb0\" id=\"7271\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_Voraussichtliche-Gewinn-und-Verlustrechnung.png\" width=\"800\" height=\"618\" srcset=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_Voraussichtliche-Gewinn-und-Verlustrechnung.png 972w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_Voraussichtliche-Gewinn-und-Verlustrechnung-300x232.png 300w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/Amazon_Voraussichtliche-Gewinn-und-Verlustrechnung-768x593.png 768w\" alt=\"Amazon_ Projected Income Statement\"\/>\t<\/a>\t\t\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-d532a79 elementor-widget elementor-widget-text-editor\" data-id=\"d532a79\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p class=\"PDq2pG_selectionAnchorContainer\" data-start=\"2450\" data-end=\"2630\">Analyst estimates through 2028 suggest that both revenue and profit are likely to continue their long-term growth trend.<\/p><h5 data-section-id=\"17di3ye\" data-start=\"2632\" data-end=\"2658\">Opportunities<\/h5><ul data-start=\"2660\" data-end=\"3503\"><li data-section-id=\"82ocru\" data-start=\"2660\" data-end=\"2847\"><strong data-start=\"2662\" data-end=\"2713\">AWS is in a new growth phase<\/strong> and achieved its strongest revenue growth in the past 18 quarters \u2013 driven by rising demand for AI infrastructure.<\/li><li data-section-id=\"7k0h5r\" data-start=\"2848\" data-end=\"3029\"><strong data-start=\"2850\" data-end=\"2905\">Amazon combines several high-quality business models<\/strong> under one roof, including cloud computing, digital advertising, Prime subscriptions, and the world&#8217;s largest online marketplace.<\/li><li data-section-id=\"wcoa2p\" data-start=\"3030\" data-end=\"3182\"><strong data-start=\"3032\" data-end=\"3095\">Operating profitability is continuously improving<\/strong>, even though the company is investing record sums in the expansion of its AI infrastructure.<\/li><li data-section-id=\"4gpnog\" data-start=\"3183\" data-end=\"3288\"><strong data-start=\"3185\" data-end=\"3227\">Advertising and marketplace services<\/strong> increase the share of recurring and high-margin revenues.<\/li><li data-section-id=\"1wf3g0i\" data-start=\"3289\" data-end=\"3503\"><strong data-start=\"3291\" data-end=\"3324\">Strong operating cash flow<\/strong> provides Amazon with the financial flexibility to continue investing massively in artificial intelligence, logistics, and cloud infrastructure.<\/li><\/ul><h5 data-section-id=\"4c7buo\" data-start=\"3505\" data-end=\"3533\">Risks<\/h5><ul data-start=\"3535\" data-end=\"4002\"><li data-section-id=\"1qj7njc\" data-start=\"3535\" data-end=\"3644\">Amazon plans <strong data-start=\"3550\" data-end=\"3589\">investments of around $220 billion<\/strong>, which will weigh on free cash flow in the short term.<\/li><li data-section-id=\"v4ak9z\" data-start=\"3645\" data-end=\"3748\">The classic retail business has structurally lower margins than AWS and the advertising business.<\/li><li data-section-id=\"17rmsfx\" data-start=\"3749\" data-end=\"3844\">Competition in the cloud market from <strong data-start=\"3787\" data-end=\"3806\">Microsoft Azure<\/strong> and <strong data-start=\"3811\" data-end=\"3827\">Google Cloud<\/strong> continues to increase.<\/li><li data-section-id=\"pz20uy\" data-start=\"3845\" data-end=\"4002\">The enormous investments in AI infrastructure must first justify themselves in the long term through corresponding returns.<\/li><\/ul><p data-start=\"4014\" data-end=\"4355\"><strong data-start=\"4014\" data-end=\"4317\">Key takeaway: <\/strong>Amazon is increasingly evolving from the world&#8217;s largest <strong>online retailer<\/strong> to one of the <strong>most profitable providers of cloud and AI infrastructure<\/strong>. The strong growth of high-margin business areas and the high willingness to invest create a solid foundation for further long-term growth. <\/p><p><strong>MUMAK.me Assessment Phase 3: Positive = 1 MUMAK<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd49fda e-con e-atomic-element e-div-block-base e-dd49fda-d86ffc1 \" data-id=\"dd49fda\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"dd49fda\" data-e-type=\"e-div-block\" data-id=\"dd49fda\">\n    <div class=\"elementor-element elementor-element-0f86229 e-con e-atomic-element e-div-block-base e-0f86229-1b023f1 \" data-id=\"0f86229\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"0f86229\" data-e-type=\"e-div-block\" data-id=\"0f86229\">\n    \t\t\t<div class=\"e-b8bc0af-3fb15aa e-svg-base\" data-interaction-id=\"b8bc0af\" data-e-type=\"widget\" data-id=\"b8bc0af\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-1eed511 e-con e-atomic-element e-div-block-base e-1eed511-9cc2e26 \" data-id=\"1eed511\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"1eed511\" data-e-type=\"e-div-block\" data-id=\"1eed511\">\n    \t\t\t<h4 data-interaction-id=\"b4176d0\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"b4176d0\">Amazon.com, Inc.<\/h4>\n\t\t<div class=\"elementor-element elementor-element-7833144 e-con e-atomic-element e-div-block-base e-7833144-92c8af2 \" data-id=\"7833144\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"7833144\" data-e-type=\"e-div-block\" data-id=\"7833144\">\n    \t\t\t<div class=\"e-b9e69ff-1bd9207 e-svg-base\" data-interaction-id=\"b9e69ff\" data-e-type=\"widget\" data-id=\"b9e69ff\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"a225a6c\" class=\"e-a225a6c-641b199 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"a225a6c\">Fundamentals Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-c15ab35 elementor-widget elementor-widget-text-editor\" data-id=\"c15ab35\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>News, Analysts, and Market Sentiment<\/h3><h4>Assessment<\/h4><p data-start=\"61\" data-end=\"518\">The latest quarterly figures have significantly strengthened investor confidence in Amazon&#8217;s long-term growth story. While the market recently feared that rapidly rising investments in artificial intelligence could weigh on profitability, the second quarter of 2026 showed the opposite: <strong data-start=\"379\" data-end=\"518\">Amazon is succeeding in converting high investments into accelerated growth for AWS and further increasing profitability.<\/strong> <\/p><p data-start=\"520\" data-end=\"814\">Despite the strong price rally, analysts remain predominantly optimistic. The current consensus is <strong data-start=\"626\" data-end=\"633\">BUY<\/strong>. The average price target is <strong data-start=\"676\" data-end=\"690\">$320.18<\/strong>, signaling further upside potential of around <strong data-start=\"767\" data-end=\"775\">18%<\/strong> from today&#8217;s perspective.  <\/p><h5><span class=\"TextRun SCXW143521436 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW143521436 BCX4\" data-ccp-parastyle=\"heading 3\">Analyst Consensus<\/span><\/span><span class=\"EOP Selected SCXW143521436 BCX4\" data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c391cb elementor-widget elementor-widget-Table\" data-id=\"9c391cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   ><\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"\"   class=\"elementor-repeater-item-12cb466 td-content-type-default\" ><b>Average Recommendation<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-e2f92fe td-content-type-default\" ><b>BUY<\/b>\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Number of Analysts <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-f98ac57 td-content-type-default\" >62<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-bba0bf7 td-content-type-default\" ><b>Average Price Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-35f1c12 td-content-type-default\" >approx. $320 \n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e9b18d8 td-content-type-default\" ><b>Upside to the average target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-19a0849 td-content-type-default\" >approx. +18%<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-91165f8 td-content-type-default\" ><b>Upper Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-8833fb8 td-content-type-default\" >$400\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-85848b8 td-content-type-default\" ><b>Lower Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >$207\n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a62d68a elementor-widget elementor-widget-text-editor\" data-id=\"a62d68a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\"><em>Source: MarketScreener, as of August 2026. <\/em><\/p><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Interesting Fact<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><h6 class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1236\" data-end=\"1526\">Amazon plans to <strong data-start=\"1250\" data-end=\"1337\">invest around $220 billion in the expansion of its AI infrastructure in 2026<\/strong>. This makes the investment program one of the largest annual capital expenditures ever announced by a publicly traded company. <\/h6><h5 data-section-id=\"bzcl2h\" data-start=\"1528\" data-end=\"1538\">Opportunities<\/h5><ul data-start=\"1540\" data-end=\"2072\"><li data-section-id=\"pora2d\" data-start=\"1540\" data-end=\"1683\"><strong data-start=\"1542\" data-end=\"1612\">AWS recorded its strongest growth in the past 18 quarters<\/strong>, underpinning its leading position in the cloud and AI market.<\/li><li data-section-id=\"125cidi\" data-start=\"1684\" data-end=\"1816\">The operating result continues to grow faster than revenue, indicating increasing efficiency of the business model.<\/li><li data-section-id=\"x96f6s\" data-start=\"1817\" data-end=\"1936\">The analyst consensus remains at <strong data-start=\"1851\" data-end=\"1858\">BUY<\/strong>, underlining confidence in Amazon&#8217;s long-term competitive position.<\/li><li data-section-id=\"3i0oaa\" data-start=\"1937\" data-end=\"2072\">The advertising business, Prime memberships, and marketplace services increase the share of recurring and high-margin revenues.<\/li><\/ul><h5 data-section-id=\"1dtrcys\" data-start=\"2074\" data-end=\"2084\">Risks<\/h5><ul data-start=\"2086\" data-end=\"2697\"><li data-section-id=\"ugnpjw\" data-start=\"2086\" data-end=\"2190\">Competition in the cloud and AI business with <strong data-start=\"2133\" data-end=\"2152\">Microsoft Azure<\/strong> and <strong data-start=\"2157\" data-end=\"2173\">Google Cloud<\/strong> remains intense.<\/li><li data-section-id=\"112ms2m\" data-start=\"2191\" data-end=\"2302\">A slowdown in AWS growth could quickly weigh on expectations for long-term profit growth.<\/li><li data-section-id=\"napv8\" data-start=\"2303\" data-end=\"2447\">Regulatory scrutiny of the marketplace, advertising business, and cloud activities remains a significant long-term risk factor.<\/li><li data-section-id=\"1hmozrd\" data-start=\"2448\" data-end=\"2697\">Following the strong price reaction to the quarterly figures, the average analyst price target suggests that a large part of the positive expectations may already be priced into the current stock price.<\/li><\/ul><p data-section-id=\"evo534\" data-start=\"2699\" data-end=\"2713\"><strong>Key takeaway: <\/strong><strong data-start=\"2715\" data-end=\"2957\">The strong quarterly figures <\/strong>have further strengthened confidence in Amazon&#8217;s <strong data-start=\"2715\" data-end=\"2957\">long-term growth strategy<\/strong>. <\/p><p><b><span data-contrast=\"none\">MUMAK.me Evaluation Phase 4: Positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5dfd83f e-con e-atomic-element e-div-block-base e-5dfd83f-f4506c6 \" data-id=\"5dfd83f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"5dfd83f\" data-e-type=\"e-div-block\" data-id=\"5dfd83f\">\n    <div class=\"elementor-element elementor-element-70ad632 e-con e-atomic-element e-div-block-base e-70ad632-238b44d \" data-id=\"70ad632\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"70ad632\" data-e-type=\"e-div-block\" data-id=\"70ad632\">\n    \t\t\t<div class=\"e-b4b5b73-f8e43b2 e-svg-base\" data-interaction-id=\"b4b5b73\" data-e-type=\"widget\" data-id=\"b4b5b73\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"c6a9c31\" class=\"e-c6a9c31-4d47ab3 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"c6a9c31\">Market Sentiment Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-1c81523 elementor-widget elementor-widget-text-editor\" data-id=\"1c81523\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Technical Analysis<\/h3><h4>Assessment<\/h4><p class=\"isSelectedEnd\">Amazon&#8217;s technical picture has significantly improved following the latest quarterly figures. The stock rose <strong data-start=\"192\" data-end=\"212\">by more than 15%<\/strong> after the results were published and broke through the previous resistance area at around <strong data-start=\"274\" data-end=\"285\">$275<\/strong> with exceptionally high trading volume. This confirmed a clear technical buy signal.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a0cf4e elementor-widget elementor-widget-Table\" data-id=\"0a0cf4e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   ><\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"\"   class=\"elementor-repeater-item-12cb466 td-content-type-default\" ><b>Indicator  <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-e2f92fe td-content-type-default\" ><b>Rating<\/b>\n<\/td><td data-label=\"\"   class=\"elementor-repeater-item-b7ba19d td-content-type-default\" ><b>Interpretation <\/b>\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>RSI (14) <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-f98ac57 td-content-type-default\" ><b>Positive<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-9400ee6 td-content-type-default\" >The RSI has risen to around 68, signaling strong momentum without yet reaching an extremely overbought range.<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-bba0bf7 td-content-type-default\" ><b>MACD<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-f024334 td-content-type-default\" ><b>Positive<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-647b2e2 td-content-type-default\" >The MACD has broken above the signal line and turned positive again. This confirms an improvement in the medium-term trend. <\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e9b18d8 td-content-type-default\" ><b>Bollinger Bands <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-05493db td-content-type-default\" ><b>Positive<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-9bcb995 td-content-type-default\" >The breakout above the upper Bollinger Band following the quarterly figures reflects exceptionally strong upward momentum and a confirmed breakout.<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f303364 elementor-widget elementor-widget-text-editor\" data-id=\"f303364\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5><span class=\"TextRun SCXW195081715 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW195081715 BCX4\" data-ccp-parastyle=\"heading 2\">Development over the last weeks\/months<\/span><\/span><span class=\"EOP Selected SCXW195081715 BCX4\" data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":319,\"335559739\":319}\"> (as of August 1, 2026)<\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-431bcad e-con e-atomic-element e-div-block-base image-container \" data-id=\"431bcad\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"431bcad\" data-e-type=\"e-div-block\" data-id=\"431bcad\">\n    \t\t<div class=\"elementor-element elementor-element-214f482 elementor-widget elementor-widget-image\" data-id=\"214f482\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-scaled.png\" data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-title=\"AMZN 1 Day\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6NzI2OCwidXJsIjoiaHR0cHM6XC9cL211bWFrLm1lXC93cC1jb250ZW50XC91cGxvYWRzXC8yMDI2XC8wOFwvQU1aTi0xLVRhZy1zY2FsZWQucG5nIn0%3D\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"2560\" height=\"1086\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-scaled.png\" class=\"attachment-full size-full wp-image-7268\" alt=\"AMZN 1 Day\" srcset=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-scaled.png 2560w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-300x127.png 300w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-1024x435.png 1024w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-768x326.png 768w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-1536x652.png 1536w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/08\/AMZN-1-Tag-2048x869.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-8039a02 elementor-widget elementor-widget-text-editor\" data-id=\"8039a02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5 class=\"PDq2pG_selectionAnchorContainer\" data-section-id=\"60d2g9\" data-start=\"1126\" data-end=\"1137\">RSI (14)<\/h5><p data-start=\"1139\" data-end=\"1150\"><strong data-start=\"1139\" data-end=\"1150\">Positive<\/strong><\/p><ul data-start=\"1152\" data-end=\"1398\"><li data-section-id=\"1j1mpql\" data-start=\"1152\" data-end=\"1192\">The RSI has risen to about <strong data-start=\"1175\" data-end=\"1181\">68<\/strong>.<\/li><li data-section-id=\"1lvb3z8\" data-start=\"1193\" data-end=\"1282\">Following the breakout after the quarterly figures, momentum has significantly improved.<\/li><li data-section-id=\"cr818i\" data-start=\"1283\" data-end=\"1398\">Although the indicator is approaching the overbought range, it continues to support the existing upward trend.<\/li><\/ul><p data-section-id=\"16153u4\" data-start=\"1400\" data-end=\"1418\"><strong>Interpretation<\/strong><\/p><p data-start=\"1420\" data-end=\"1567\">The RSI signals <strong data-start=\"1441\" data-end=\"1468\">strong buying momentum<\/strong> triggered by the convincing quarterly figures.<\/p><h5 data-section-id=\"172efdd\" data-start=\"1574\" data-end=\"1591\"> <\/h5><h5 data-section-id=\"172efdd\" data-start=\"1574\" data-end=\"1591\">MACD (12\/26\/9)<\/h5><p data-start=\"1593\" data-end=\"1604\"><strong data-start=\"1593\" data-end=\"1604\">Positive<\/strong><\/p><ul data-start=\"1606\" data-end=\"1809\"><li data-section-id=\"18k9d2t\" data-start=\"1606\" data-end=\"1656\">The MACD has crossed above the signal line.<\/li><li data-section-id=\"w17jso\" data-start=\"1657\" data-end=\"1709\">The indicator is trading in positive territory again.<\/li><li data-section-id=\"wpo0rb\" data-start=\"1710\" data-end=\"1809\">After several weeks of consolidation, medium-term momentum has significantly improved.<\/li><\/ul><p data-section-id=\"16153u4\" data-start=\"1811\" data-end=\"1829\"><strong>Interpretation<\/strong><\/p><p data-start=\"1831\" data-end=\"1980\">The MACD confirms that <strong data-start=\"1856\" data-end=\"1941\">the medium-term upward trend has regained momentum after the breakout<\/strong>.<\/p><h5 data-start=\"1831\" data-end=\"1980\"> <\/h5><h5 data-start=\"1831\" data-end=\"1980\">Bollinger Bands (20)<\/h5><p data-start=\"2013\" data-end=\"2024\"><strong data-start=\"2013\" data-end=\"2024\">Positive<\/strong><\/p><ul data-start=\"2026\" data-end=\"2285\"><li data-section-id=\"7ew9mr\" data-start=\"2026\" data-end=\"2087\">Amazon has clearly broken out above the upper Bollinger Band.<\/li><li data-section-id=\"ziytou\" data-start=\"2088\" data-end=\"2161\">The breakout was accompanied by significantly higher trading volume.<\/li><li data-section-id=\"7aw2o0\" data-start=\"2162\" data-end=\"2285\">The strong quarterly figures triggered a dynamic momentum surge rather than just a slow upward movement.<\/li><\/ul><p data-section-id=\"16153u4\" data-start=\"2287\" data-end=\"2305\"><strong>Interpretation<\/strong><\/p><p data-start=\"2307\" data-end=\"2437\">The Bollinger Bands confirm the <strong data-start=\"2343\" data-end=\"2398\">exceptional price strength following the quarterly figures<\/strong>.<\/p><h5 data-section-id=\"bzcl2h\" data-start=\"2439\" data-end=\"2449\">Opportunities<\/h5><ul data-start=\"2451\" data-end=\"2752\"><li data-section-id=\"19vpdzl\" data-start=\"2451\" data-end=\"2579\">The breakout above <strong data-start=\"2471\" data-end=\"2482\">$275<\/strong> confirms the renewed upward trend and brings the stock back near its all-time high.<\/li><li data-section-id=\"1sv6tql\" data-start=\"2580\" data-end=\"2644\">The high trading volume increases the significance of the breakout.<\/li><li data-section-id=\"1t40tg5\" data-start=\"2645\" data-end=\"2752\">The long-term upward trend remains fully intact with a sequence of higher highs and higher lows.<\/li><\/ul><h5 data-section-id=\"1dtrcys\" data-start=\"2754\" data-end=\"2764\">Risks<\/h5><ul data-start=\"2766\" data-end=\"3125\"><li data-section-id=\"1kbnupr\" data-start=\"2766\" data-end=\"2889\">After a price increase of more than <strong data-start=\"2804\" data-end=\"2836\">15% in just one trading day<\/strong>, short-term profit-taking is possible at any time.<\/li><li data-section-id=\"j2njp5\" data-start=\"2890\" data-end=\"2995\">The RSI is approaching the overbought range, which could favor a temporary consolidation.<\/li><li data-section-id=\"1hkydrl\" data-start=\"2996\" data-end=\"3125\">Increased volatility is to be expected in the short term following strong quarterly figures.<\/li><\/ul><p data-section-id=\"evo534\" data-start=\"3127\" data-end=\"3141\"><strong>Key takeaway: <\/strong>Amazon has delivered a technically convincing <strong>breakout following the quarterly figures<\/strong>. The significant increase in momentum, the positive technical indicators, and the breakout above key resistance suggest that the <strong>long-term upward trend<\/strong> remains intact. <\/p><p><b><span data-contrast=\"none\">MUMAK.me Assessment Phase 5: Positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fd6a84e e-con e-atomic-element e-div-block-base e-fd6a84e-1d82a61 \" data-id=\"fd6a84e\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"fd6a84e\" data-e-type=\"e-div-block\" data-id=\"fd6a84e\">\n    <div class=\"elementor-element elementor-element-27b0ff2 e-con e-atomic-element e-div-block-base e-27b0ff2-bec755f \" data-id=\"27b0ff2\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"27b0ff2\" data-e-type=\"e-div-block\" data-id=\"27b0ff2\">\n    \t\t\t<div class=\"e-162921c-93f56d1 e-svg-base\" data-interaction-id=\"162921c\" data-e-type=\"widget\" data-id=\"162921c\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-e7e943f e-con e-atomic-element e-div-block-base e-e7e943f-d23b8df \" data-id=\"e7e943f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"e7e943f\" data-e-type=\"e-div-block\" data-id=\"e7e943f\">\n    \t\t\t<h4 data-interaction-id=\"c6ebb1b\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"c6ebb1b\">Amazon.com, Inc.<\/h4>\n\t\t<div class=\"elementor-element elementor-element-be86ed4 e-con e-atomic-element e-div-block-base e-be86ed4-cde1a61 \" data-id=\"be86ed4\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"be86ed4\" data-e-type=\"e-div-block\" data-id=\"be86ed4\">\n    \t\t\t<div class=\"e-bc3c677-f664bd2 e-svg-base\" data-interaction-id=\"bc3c677\" data-e-type=\"widget\" data-id=\"bc3c677\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" 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class=\"e-13349eb-aa84a78 e-svg-base\" data-interaction-id=\"13349eb\" data-e-type=\"widget\" data-id=\"13349eb\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" id=\"Ebene_1\" data-name=\"Ebene 1\" viewBox=\"0 0 500 500\"><defs><style>      .cls-1 {        fill: #c6a75e;        fill-rule: evenodd;      }    <\/style><\/defs><path class=\"cls-1\" 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data-interaction-id=\"536e156\" class=\"e-536e156-382c376 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"536e156\">Technical Analysis Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-afade06 elementor-widget elementor-widget-text-editor\" data-id=\"afade06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5 class=\"PDq2pG_selectionAnchorContainer\" data-section-id=\"1afzht1\" data-start=\"3570\" data-end=\"3595\">What speaks for Amazon?<\/h5><ul data-start=\"3597\" data-end=\"4445\"><li data-section-id=\"heamkf\" data-start=\"3597\" data-end=\"3803\"><strong data-start=\"3599\" data-end=\"3637\">AWS is consolidating its leadership position<\/strong> and, with revenue growth of <strong data-start=\"3683\" data-end=\"3691\">37%<\/strong>, recorded its strongest growth in the past 18 quarters \u2013 driven by high demand for AI infrastructure.<\/li><li data-section-id=\"13pl1e1\" data-start=\"3804\" data-end=\"3974\"><strong data-start=\"3806\" data-end=\"3862\">Amazon combines several high-quality business areas<\/strong>, including cloud computing, digital advertising, Prime memberships, and the world&#8217;s largest online marketplace.<\/li><li data-section-id=\"drqugu\" data-start=\"3975\" data-end=\"4131\"><strong data-start=\"3977\" data-end=\"4040\">Operating profitability is continuously improving<\/strong>, while high-margin business areas account for an ever-increasing share of earnings.<\/li><li data-section-id=\"e6adg1\" data-start=\"4132\" data-end=\"4271\"><strong data-start=\"4134\" data-end=\"4169\">Strong cash flow generation<\/strong> continues to enable high investments in AI infrastructure, logistics, and future growth areas.<\/li><li data-section-id=\"1al3o63\" data-start=\"4272\" data-end=\"4445\"><strong data-start=\"4274\" data-end=\"4300\">Proprietary AI technologies<\/strong> such as Trainium, Inferentia, Bedrock, and other cloud services strengthen Amazon&#8217;s position in the next development cycle of artificial intelligence.<\/li><\/ul><h5 data-section-id=\"1454crn\" data-start=\"4447\" data-end=\"4474\">What speaks against Amazon?<\/h5><ul data-start=\"4476\" data-end=\"5221\"><li data-section-id=\"1cyg1c9\" data-start=\"4476\" data-end=\"4633\">The planned <strong data-start=\"4492\" data-end=\"4531\">investments of around $220 billion<\/strong> require consistent implementation before they are sustainably reflected in higher earnings.<\/li><li data-section-id=\"b5f9kf\" data-start=\"4634\" data-end=\"4743\">Competition in the cloud and AI market remains extremely intense with <strong data-start=\"4685\" data-end=\"4704\">Microsoft Azure<\/strong> and <strong data-start=\"4709\" data-end=\"4725\">Google Cloud<\/strong>.<\/li><li data-section-id=\"1tqrrhr\" data-start=\"4744\" data-end=\"4895\">The retail business continues to operate with structurally lower margins than AWS, making overall profitability heavily dependent on cloud growth.<\/li><li data-section-id=\"1iaxom0\" data-start=\"4896\" data-end=\"5030\">Regulatory investigations into the marketplace, advertising business, and cloud activities remain a long-term risk factor.<\/li><li data-section-id=\"oma27h\" data-start=\"5031\" data-end=\"5221\">Global supply chains and international business activities remain vulnerable to geopolitical developments and changes in trade policy.<\/li><\/ul><h5 data-section-id=\"156320f\" data-start=\"5223\" data-end=\"5244\">What are we watching?<\/h5><ul data-start=\"5246\" data-end=\"5798\"><li data-section-id=\"96zqlh\" data-start=\"5246\" data-end=\"5338\">Whether AWS can maintain the current high growth rate in the AI infrastructure sector.<\/li><li data-section-id=\"6rwx4f\" data-start=\"5339\" data-end=\"5444\">The further expansion of the AI strategy with <strong data-start=\"5382\" data-end=\"5415\">Trainium, Inferentia, Bedrock<\/strong>, and generative AI services.<\/li><li data-section-id=\"54oblw\" data-start=\"5445\" data-end=\"5558\">The development of profitability in the retail and advertising business as high-margin segments continue to grow.<\/li><li data-section-id=\"1a3d49o\" data-start=\"5559\" data-end=\"5672\">The progress of investments in AI infrastructure and their impact on future profit growth.<\/li><li data-section-id=\"1yb1cih\" data-start=\"5673\" data-end=\"5798\">Regulatory developments surrounding the marketplace, cloud business, and digital advertising.<\/li><\/ul><h2>Summary<\/h2><p>Amazon is increasingly evolving from a leading online retailer to one of the world&#8217;s most important providers of cloud and AI infrastructure. The accelerated growth of AWS, rising profitability, and consistent investments in artificial intelligence create a compelling foundation for long-term growth. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a3f9ae elementor-widget elementor-widget-text-editor\" data-id=\"2a3f9ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Rating According to the MUMAK Method<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d421efd elementor-widget elementor-widget-Table\" data-id=\"d421efd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Category<\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Rating<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Category\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>Geopolitics<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>Industry<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-b92892f td-content-type-default\" >Neutral<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Fundamentals<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-9492819 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-6f870ed td-content-type-default\" ><b>News &amp; Sentiment<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-1c7f62f td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-ca1b684 td-content-type-default\" ><b>Technical Analysis<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-5f69e06 td-content-type-default\" >Positive<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11acf94 elementor-widget elementor-widget-text-editor\" data-id=\"11acf94\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Overall Rating<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b96ba47 e-con e-atomic-element e-div-block-base e-b96ba47-424a199 \" data-id=\"b96ba47\" data-element_type=\"e-div-block\" 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data-interaction-id=\"aadfcef\" class=\"e-aadfcef-4a9160a rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"aadfcef\">Analysis Result: 4 out of 5 MUMAKS<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Amazon is increasingly evolving from an online retailer into an AI and cloud group. 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