On July 31, Amazon's share price experienced a notable upswing, closing 15.32% higher. As the U.S. stock market prepared to open on August 3, Amazon's shares maintained their upward trajectory, climbing an additional 1.14% to trade at $274.67. This continued momentum can be attributed to the company's stellar Q2 2026 performance, which surpassed market expectations. Notably, AWS cloud business revenue growth soared to an 18-quarter peak. In light of these robust results, Amazon has revised its full-year 2026 capital expenditure forecasts upwards and expressed confidence in the long-term, trillion-dollar revenue potential of AI. The company anticipates that the demand for AI computing power will continue to outstrip supply until at least 2028. Reflecting this optimism, prominent financial institutions such as Jefferies, Goldman Sachs, and Morgan Stanley have all raised their target prices for Amazon, maintaining a 'buy' or 'overweight' rating, while also adjusting their profit and revenue projections upwards.