Will Q2 Earnings on July 31 Power Amazon Stock Higher?

Amazon (AMZN) will announce its second-quarter earnings on Thursday, July 31. While Amazon shares have seen only modest gains so far in 2025, up about 5% year-to-date, they’ve shown impressive strength in recent months, climbing 24.9% over the last quarter. This rally reflects growing optimism about Amazon’s ability to maintain its dominance across key segments like e-commerce and cloud computing.

The recent rally has helped AMZN stock recover from earlier pullbacks, and technical indicators suggest the rally may not be over. The stock’s 14-day Relative Strength Index (RSI) stands at 63.87, which is comfortably below the 70 overbought threshold. That suggests there’s still room for upward movement if upcoming results and guidance exceed expectations.