Amazon.com Inc. (NASDAQ: AMZN) has spent the past year pouring money into the future at a pace few companies could stomach. The tech giant now heads into its Q3 earnings report later this month with the stock near $260, up around 5% since the end of September, and with Wall Street’s patience—and its own wallet—feeling pretty stretched.
With a capital-spending spree that’s on track to top $220 billion this year, investors want proof the money is turning into profit, not just bigger data centers and longer backlogs. The question hanging over the report is easy to ask and hard to answer: Will all of Amazon’s AI investments be justified in the stock’s price when the numbers finally land?
