Amazon: Stunning Earnings Reaffirm Thesis

Amazon had incredibly strong performance post-earnings as the company saw 20+% YoY revenue growth and 40+% operating earnings growth. Amazon's core business remains incredibly strong with a double-digit growth rate. Amazon's ads saw 26% YoY growth, giving high-margin revenue to the core business. Amazon has built a dominant AI market position, with equity stakes, cloud, and an incredibly strong silicon portfolio. AWS saw not only 37% YoY revenue growth but also margin growth.