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Amazon Shares Leap 14% After AI-Driven Earnings Beat

8/1/2026

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Summary

Amazon Shares Surge

Amazon.com Inc. shares jumped 14% on Friday after its second-quarter earnings beat.
AWS revenue rose 37% year-over-year, the fastest since 2021, with backlog at $496 billion.
The company forecast Q3 revenue of $197-$202 billion, below analysts’ $204.1 billion estimate.
Analysts lifted price targets to $300-$375 after AWS reported $25 billion AI recurring revenue and a $51 billion backlog increase that added about $342 billion to market value.

Summary

Asian Markets Surge

Asian markets surged on Friday as AI-linked stocks rebounded, with South Korea’s Kospi jumping more than 16%.
Samsung Electronics shares rose 24.8% as Japan’s yen firmed to about 160.59 per dollar after intervention by Japanese and U.S. authorities.
Brent crude rose 0.3% to $87.14 per barrel, with spot gold falling 0.5% to $4,082.88 after a drone strike on gas vessels in Egypt’s Damietta port amid U.S.–Iran tensions.

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Amazon Shares Surge

Amazon.com Inc. shares jumped 14% on Friday after its second-quarter earnings beat.
AWS revenue rose 37% year-over-year, the fastest since 2021, with backlog at $496 billion.
The company forecast Q3 revenue of $197-$202 billion, below analysts’ $204.1 billion estimate.
Analysts lifted price targets to $300-$375 after AWS reported $25 billion AI recurring revenue and a $51 billion backlog increase that added about $342 billion to market value.

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