Amazon’s Q1 2026 earnings report, due April 29, arrives amid significant market anticipation and coincides with a key Federal Reserve meeting. Analysts project an 8% stock move, with price targets reaching $325, driven by expectations for AWS growth and AI investment. However, a notable divergence exists as company insiders, including CEO Andy Jassy, have executed millions in stock sales without any purchases in the past six months.
All eyes are on Amazon as it prepares to release Q1 2026 results on April 29, a day that also features earnings from Microsoft, Meta, and Alphabet. Consensus points to revenue between $177–188 billion, a 14% year-over-year increase, with advertising revenue projected to jump 21%. Analysts have issued bullish price targets, with Brian Pitz from BMO Capital setting a target of $315 and Justin Patterson from Keybanc at $325.
Morgan Stanley maintained an “Overweight” rating, suggesting AWS is accelerating AI workload migrations. The company plans up to $200 billion in 2026 capital expenditure, mostly for AI, while securing a $100 billion commitment from Anthropic for cloud services. Despite this bullish outlook, insider trading data reveals a consistent pattern of sales by top executives over the last six months.
CEO Andy Jassy sold shares worth an estimated $16.3 million, while AWS CEO Matthew Garman sold an estimated $7.5 million. Congressional trading activity also shows transactions, including Representative Nancy Pelosi’s purchase of up to $1 million in AMZN stock in January. The put/call ratio for Amazon options sits at a low 0.62, signaling strong bullish positioning among options traders ahead of the report.
