Overview
- Major value-oriented managers have been adding to Amazon positions, with reports on June 25, 2026 naming Appaloosa, Baupost, Pershing Square, Generation Investment Management and Sanders Capital among the buyers.
- Amazon’s cloud unit AWS accelerated to 28% year‑over‑year growth in Q1 2026, generating $37.6 billion in revenue and a $364 billion contracted but not yet recognized backlog that investors see as recurring future revenue.
- Company guidance for roughly $200 billion of 2026 capital expenditures, largely for AWS and AI infrastructure, is weighing on near‑term earnings metrics even as investors treat the spending as capacity build for future profit.
- Holdings filings show mixed positioning: some institutions materially trimmed plain equity stakes or shifted into call options, which analysts say reflects portfolio rebalancing and the lagged nature of quarterly 13F disclosures.
- AWS’s May 2026 launch of Bedrock AgentCore Payments with Coinbase and Stripe highlights Amazon’s move to productize AI for payments, a step that could create new revenue streams and broaden demand for cloud compute and transaction services.