Amazon is expected to report Q4 2025 revenue of $211.56 billion and earnings of $1.98 per share, with its current price of $238.62 trading below the average analyst target of $297.21.
Investors are primarily focused on the growth acceleration of Amazon Web Services (AWS), which is projected to reach approximately $35.03 billion. This cloud momentum is being driven by strong enterprise demand for generative AI workloads and new infrastructure capacity.
However, concerns remain regarding massive capital expenditures, which are forecasted to continue rising through 2026 to support data center buildouts. Improving retail margins and holiday season momentum also remain critical components of the growth narrative.