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Summary

Amazon has surged 31% since February, driven by strong AI chip momentum and major cloud deals.

Recent partnerships with Meta, OpenAI, and Anthropic highlight AMZN’s expanding AI infrastructure and $20B+ annual chip revenue run rate.

Short-term risks include overbought technicals, potential post-earnings volatility, and upcoming antitrust litigation that could pressure margins.

I remain bullish long-term, viewing AMZN as a superior conglomerate, but expect better entry points after possible near-term pullbacks.

hapabapa/iStock Editorial via Getty Images

Back in February, I wrote a bullish article about Amazon ( AMZN ) suggesting that after seeing it decline for nine days in a row, it was time to back up the truck. At that time, Amazon shares traded for about $202, and since then

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives.…