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Amazon Faces Feb. 5 Earnings Test With Focus on AWS and AI Spending

Options pricing points to a potential 7% swing centered on heavy capex versus expected AWS acceleration.

Overview

  • Amazon reports fourth‑quarter results after the close on Feb. 5, with consensus near $211.5 billion in revenue and $1.97 in EPS.
  • Options markets imply roughly a 7% move in either direction following the release, highlighting elevated event risk.
  • Bank of America models $213 billion in Q4 revenue and $26 billion in EBIT with about 22% AWS growth, above Street estimates.
  • Analysts cite AI infrastructure and cloud catalysts including Trainium3 chips, expanded AWS capacity, and Anthropic demand, as firms reaffirm buy ratings and lift targets such as UBS at $311, BMO at $304, Citizens at $315, Wedbush at $340, and Roth at $295.
  • Recent workforce reductions—16,000 planned after 14,000 in October—feature in debates over near‑term margins alongside sustained, very large capex plans.