Earnings strength, retail dominance, and brisk trading reshape Amazon's outlook

Amazon has just posted double‑digit revenue growth (around $717 billion in 2025, up ~12%) and ~30% EPS growth, while also surpassing Walmart to become the world’s largest company by revenue. Despite this, AMZN shares are 15%–20% off recent highs, with margin pressure and an earnings miss in operating margin driving debate over whether the pullback is a buying opportunity. Trading activity is intense: options volume is surging, technicians are mapping upside targets, and major investors are actively rebalancing—some trimming positions, others (like Ark Invest and large asset managers) adding exposure. The stock now sits at the center of broader questions about big‑cap tech and retail valuations, AWS and AI‑driven growth, and whether Amazon remains a long‑term “millionaire‑maker” despite short‑term volatility.