Amazon: Rule Of 90 In FY2028? We'll Hit 80 By Year-End

Amazon.com, Inc. has underperformed other AI hyperscalers, which creates a buying opportunity for a catch-up rally, as I expect robust 3Q earnings. While Q3 retail revenue guidance seems soft, driven by the timing of Prime Day and an unfavorable currency impact, consumer spending remains strong enough to limit downside risk. I expect a Rule of 80 for AWS by year-end and 90 before FY2028, driven by a mounting backlog and accelerating capex growth that narrows the supply shortage gap.