AWS Backlog Hits $496 Billion While Cloud Margins Surge to 39% Making Amazon a Must-Own Growth Stock
Amazon (NASDAQ:AMZN) has become one of the most compelling buys among Magnificent Seven stocks and large-cap growth stocks in general. There are two converging factors that make Amazon a screaming buy right now.
One is surging growth, supported by a massive $496 billion Amazon Web Services cloud computing backlog, which is contracts in the pipeline waiting to be executed upon. That is up more than double from the start of 2026 when it had just $244 billion in backlog.
That should allow Amazon to continue the momentum it has seen so far this year. The fiscal second quarter was Amazon’s best quarter in more than four years. Overall revenue increased 20% to $200.6 billion, marking its best quarter of revenue growth since 2021.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.