Amazon (AMZN) surpassed $3 trillion market cap for the first time after Q2 earnings beat estimates. Revenue of $200.61 billion and EPS of $1.97 exceeded expectations. CEO Andy Jassy cited rising capex from AI memory costs, while AWS growth drove momentum. Analyst Jim Cramer called results “astonishing” and urged buying. Multiple Wall Street firms reiterated buy ratings, and Maxim Group raised its target. BlackRock also launched a tokenized money-market fund on Ethereum.
Amazon (AMZN) eclipsed a $3 trillion market cap for the first time as shares climbed 4% on Monday. The Q2 earnings report released last week lifted forecasts after revenue came in at $200.61 billion, beating the $196.47 billion estimate.
Adjusted earnings per share were $1.97 versus the expected $1.82. On the conference call, CEO Andy Jassy told investors that Amazon hiked its capex estimate due to rising memory prices linked to the AI buildout.
Amazon’s stock is up 17% year-to-date, picking up steam after falling in June. AWS’ stellar revenue is driving momentum, sending the stock to a two-month high.
CNBC analyst Jim Cramer called the results “astonishing” in a post on X. He has previously issued bullish forecasts for the stock if Q2 earnings beat estimates, and now sees further upside.
Many Wall Street firms reiterated buy ratings for AMZN stock. Wells Fargo, Citi, and Wedbush all reiterated buy ratings on Friday after the earnings.
Maxim Group hiked its Amazon stock target. Tom Forte, the Senior Consumer Internet Analyst, reiterated his buy rating and increased the target. In a note to clients on Saturday, August 1, 2026, Forte urged institutional clients to start taking entry positions.
Also Read: BlackRock Launches Tokenized Money-Market Fund on Ethereum
