Amazon (AMZN) shares fell about 2% after its Q3 report: revenue rose 12% to $201.9 billion, below FactSet's consensus of $202.2 billion, and EPS of $1.89 missed the $1.97 estimate. AWS grew 39% to $46.0 billion, its fastest pace in nearly five years, and operating margin hit a record 13.9%. However, Amazon spent $75.9 billion on property and equipment in the quarter, long-term debt rose to $173.1 billion, and trailing twelve-month free cash flow was an outflow of $42.4 billion. CEO Andy Jassy said Amazon expects to spend “meaningfully more” in 2027, a boost for Nvidia but a harder test for CoreWeave. The author argues the forward P/E of about 25x, below the five-year low, reflects too much pessimism while AWS keeps accelerating.
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Related tickers and likely impact
AMZN
▼ Likely negativeAmazon
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/29/2026 | 244.23 |
| Change that session | -4.07% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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