According to Visible Alpha consensus, Alphabet Inc.'s total revenues expected for Q4 2025 have increased to $111.4 billion from $108.8 billion last quarter. We are closely monitoring the trend of the Cloud business. The operating profit margin has been trending better. According to Visible Alpha consensus, Amazon.com Inc.'s total revenues of $211.6 billion expected for Q4 have remained steady since the October release, driven by resilience in Amazon's online retail business.

AWS CEO Matt Garman said space-based data centers remain impractical and uneconomical despite rising AI-driven infrastructure demand, citing high launch costs, heavy hardware and limited rocket capacity as major barriers even as some tech leaders continue to explore the idea.

Today, Feb. 3, 2026, Walmart's $1 trillion milestone stands out as rising bond yields and tech weakness drag major U.S. indexes lower.

Alphabet and Amazon's cloud services will be closely monitored and hopefully echo further AI-driven growth amid reemerging CapEx concerns among the Mag 7.

Amazon is set to report its latest quarterly results after the closing bell Thursday, with traders anticipating a big move in the tech giant's stock that could bring it to new highs following the results.

Amazon.com Inc (NASDAQ:AMZN) is set to report its fourth quarter 2025 earnings on Thursday, with UBS analysts modestly lifting their price target and increasing expectations for cloud revenue and capital spending as the company expands infrastructure capacity. UBS lifted its 12-month price target to $311 from $310 and reiterated a ‘Buy' rating, citing growing confidence in Amazon Web Services (AWS) growth and longer-term free cash flow potential.

I am downgrading my rating on Amazon.com, Inc., heading into the Q4 print, as any deceleration in AWS growth could spark a Microsoft-like re-rate. The Street whisper for AWS revenue is $34.9B. AMZN doesn't guide AWS, so a print below that, or growth under 20.2% YOY, may lead to a selloff. AMZN ads is the other growth engine (23.5% in Q3). I'm mainly focused on Prime Video streaming-ad momentum, including 315M ad-supported viewers and the Netflix inventory deal via Amazon DSP.

AMZN heads into Q4 earnings with $206-$213B sales guidance, double-digit growth, and momentum from AWS, advertising, and AI-driven retail.

Amazon.com, Inc. is redefining its AI infrastructure strategy with Trainium, a custom chip now driving multibillion-dollar business and 150% quarterly growth. Trainium's price/performance edge and vertical integration are compressing AWS margins short-term but set the stage for long-term margin expansion and competitive moats. DCF analysis indicates a fair value of $308.06, projecting 28.7% upside, with robust revenue and margin growth assumptions underpinned by AI-driven operating leverage.