Should You Buy Amazon Stock Before Oct. 29?

Amazon (AMZN) reports Q3 2026 earnings on Oct. 29, and the setup centers on one number: AWS revenue grew 37% last quarter. Investors are watching two pressure points into the print, AWS growth and capital expenditure concerns.

The bull case rests on AI infrastructure. The source cites a global AI market projected to reach $1.9 trillion by 2032, and positions AWS as a core beneficiary. At a $2.7 trillion market cap, AMZN is already enormous, so that runway has to be weighed against the scale of the base.

The capex question is the counterweight. Interpretation: heavy infrastructure spending is the cost of capturing AI demand, and the market will likely judge whether AWS growth near the 37% mark justifies the outlay. A deceleration alongside rising spending would pressure the stock, while sustained growth would support the long-term thesis.

Short-term price action around the print remains uncertain. The source frames the stronger case as a long-term one, built on AWS's position in AI infrastructure rather than on an earnings-day move.