Is Amazon Stock a Buy Right Now?

Amazon shares fell more than 3% on Friday and are down over 9% in the past five trading days amid a broader chip stock selloff. AWS grew 28% year over year in Q1 2026 to $37.6 billion, accelerating from prior quarters. Amazon's custom silicon (Graviton, Trainium, Nitro) now generates over $20 billion in annual revenue run rate with triple-digit growth. The bull case cites cloud, advertising, and retail profitability, while the bear case points to astronomical spending needs.