Amazon Trades 11 Percent Below Record High Ahead of October 29 Earnings

Yahoo Finance ·

Amazon stock reached an all-time peak of $284.02 per share on August 3, 2026, before pulling back approximately 11 percent to trade around $254. As the global leader in e-commerce and cloud computing, the company derives the bulk of its top-line revenue from retail operations. However, the majority of its operating income is generated by Amazon Web Services, which stands as the premier cloud infrastructure platform worldwide. Investors are now closely monitoring a single crucial metric that will likely dictate the stock's future trajectory when third-quarter financial results are released on October 29.

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Amazon (AMZN) shares are trading around $254, down 11% from their August 2026 peak, ahead of its Q3 earnings release on October 29. As the world's largest e-commerce and cloud infrastructure company, Amazon generates the majority of its revenue from retail and most of its operating profit from AWS. A single key metric announced in this earnings report is expected to determine the direction of the stock.

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