New York, July 5, 2026, 15:03 (EDT)
- Amazon.com NASDAQ:AMZN climbed 4.3% during the holiday-shortened week, topping the Nasdaq Composite’s 2.1% rise.
- Roughly 75% of Amazon’s dollar jump was on Monday. Volume slipped each day after until Thursday.
- Next up is seeing if AWS pricing and Prime Day numbers are enough to keep the stock above last week’s low-volume bounce.
Amazon.com, Inc. NASDAQ:AMZN heads into Monday’s U.S. open coming off a better week than the Nasdaq, though trading was messier than the weekly numbers look.
Shares finished Thursday at $242.67, up $9.98 over where they settled June 26 at $232.69. That’s a 4.3% jump for the four-day week. The Nasdaq Composite added 2.1%. The S&P 500 advanced 1.8% and the Dow climbed around 2% as U.S. trading paused Friday for Independence Day observed. Nasdaq listed July 3 as a market holiday, with normal trading hours from 9:30 a.m. to 4 p.m. Eastern.
Amazon’s jump this week was mostly about Monday. The stock put up $7.45 of its $9.98 weekly gain that day, or about 75%. It reached $249.71 at its intraday high Monday, but closed out the week 2.8% lower than that level. Trading volume dropped too, from 77.62 million shares on Monday to 48.30 million on Thursday, dipping under the 65-day average of 50.67 million.
| Amazon session | Close | Daily move | Volume |
|---|---|---|---|
| June 29 | $240.14 | up 3.20% | 77.62 mln |
| June 30 | $238.34 | down 0.75% | 66.23 mln |
| July 1 | $241.70 | rose 1.41% | 53.83 mln |
| July 2 | $242.67 | added 0.40% | 48.30 mln |
This is notable since the stock didn’t just track the tech sector. Invesco QQQ Trust NASDAQ:QQQ was up 0.9% between June 26 and July 2, then lost 1.73% Thursday. Amazon showed a 0.40% gain Thursday, while the Nasdaq slid 0.80%.
| Instrument | June 26 close | July 2 close | Week move |
|---|---|---|---|
| Amazon.com NASDAQ:AMZN | $232.69 | $242.67 | rose 4.3% |
| Nasdaq Composite | 25,297.62 | 25,832.67 | gained 2.1% |
| S&P 500 | 7,354.02 | 7,483.24 | added 1.8% |
| Invesco QQQ Trust NASDAQ:QQQ | $706.52 | $712.60 | up 0.9% |
Two key numbers pushed the bid higher. U.S. consumers spent over $26.4 billion online during Amazon’s Prime Day event from June 23-26, up 9.3% year on year, Adobe Analytics told Reuters. Reuters also reported that Numerator data put the average Prime Day order at $47.66, down from $53.34.
“It’s really pointing to that fatigued consumer,” Sonia Lapinsky, managing director of retail at Alix Partners, told Reuters. She said the Prime Day event had demand, but much of it was driven by discounts. Reuters
AWS is hiking prices. Amazon Web Services increased EC2 Capacity Block prices for machine-learning GPU reservations by around 20% since July, according to Business Insider. AWS said it reviews reservation prices regularly with supply and demand, and customers pay the rate shown when they buy, per its pricing page.
Peter Berezin, chief economist at BCA Research, said limited GPU supply is pushing up hyperscalers’ pricing power for cloud, according to Business Insider. “While the memory shortage raises their costs, it also keeps the demand for compute above the available supply,” he wrote. Business Insider
Amazon’s first-quarter free cash flow dropped to $1.2 billion in the past year, mainly because property and equipment purchases rose $59.3 billion year over year on AI spending. For shareholders, this is the key stock number, more than the Prime Day buzz. If AWS can pass on higher AI infrastructure costs, the multiple reacts.
CEO Andy Jassy said in April AWS was up 28%, its fastest pace in 15 quarters. He also said Amazon’s chips unit had cleared a $20 billion run rate for revenue. Still, shares are 12.9% under their 52-week high of $278.56 set on May 5, even after last week’s bounce.
Wall Street is still in Amazon’s corner. Benzinga data show Wells Fargo NYSE:WFC reaffirmed its Overweight rating on July 2, nudging its price target up to $313 from $312. The WSJ, citing FactSet, reports consensus on the stock is Buy, with 57 Buys, 11 Overweights, two Holds and no Sells. The average price target stands at $317.30, which is about 31% above where shares closed Thursday.
Amazon has little on the calendar for events this week. The Wall Street Journal puts the company’s Q2 earnings report out for July 30, with the current estimate at $1.81 per share. Traders will watch before then to see if buyers can push volume past Thursday’s 48.30 million shares, or if the stock manages to get back to Monday’s $249.71 high.
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