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What podcasters are saying about Amazon.com (AMZN)
Summary
In the past 30 days, 29 speakers on 15 finance podcasts discussed Amazon.com (AMZN) in 48 views. Going by each speaker's latest call, 23 are bullish and 5 are bearish. Chorus has followed Amazon.com since October 11, 2026.
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Newest first. Every quote is checked against the episode's transcript.
Jim Lebenthal · Cerity PartnersBullish
Amazon's selloff is the market flinching; AWS growth and capex plans make valuation forgiving, so he is not trimming.
Lebenthal trimmed Alphabet the day before but is not doing the same with Amazon. He cites Andy Jassy's claim that AWS will become a $1 trillion company and says that means he doesn't need to flinch at each market shot. He calls Amazon's valuation very forgiving, sees no sign of capex letting up, and reads the post-earnings selloff as the market overreacting rather than a change in fundamentals.
“I don't feel the same way about Amazon. ... I find these valuations very forgiving. There's no sign of CapEx letting up. So all of this to me is just the market flinching.”at 2:30
CNBC Halftime Report: Amazon in Focus as the Nasdaq Slides 10/3026 ·
Jason Snipe · Odyssey Capital AdvisorsBullish
Amazon's record AWS margins, growth and backlog show upside; he would lean into the stock.
Snipes sees a mixed quarter but says AWS is the story. AWS grew 39% year over year, roughly double last year's pace, with record 13.9% margins. Custom chips are up about 20x from last year and will be offered to enterprises late in 2027. Backlog rose from $497 billion to $578 billion. With the stock now down only about 2% after being down 7% premarket and the forward guide likely to rise, he would be tempted to buy.
“I would be tempted to lean in here. Right? Because I do think there's upside potential just given where the metrics are...”at 6:17
CNBC Halftime Report: Amazon in Focus as the Nasdaq Slides 10/3026 ·
Jay Hatfield · Infrastructure Capital AdvisorsBullish
Amazon is cheap versus Walmart: 20% growth at about 20x earnings, with robots lifting margins.
Hatfield compares Amazon to Walmart. Walmart grows about 10% and traded at about 45x earnings, a PEG of about 4.5, while Amazon grows about 20% at about 20x earnings, a PEG of about 1. Walmart has since de-rated toward a PEG of about 3. Half of Amazon's business is the same or better as Walmart's, with lower margins that robots can expand. He says the relative valuation has reversed partly, but Amazon still looks cheap.
“Amazon grows at 20. It was trading at 20 times earnings... half of their business is the same or better, has lower margins so they can expand it with robots.”at 28:29
Excess Returns: Tech is Selling Off. AI Debt Fears Are Rising. So Why Does a $4B Manager See a Reverse Bubble? ·
Josh Brown · Ritholtz Wealth ManagementBullish
AWS is the winner if neoclouds fail; its backlog and growth are accelerating.
Brown argues that if debt-funded neoclouds shake out, hyperscalers gain. AWS grew 28% in the April quarter and 37% in the July quarter. It reported $496B of backlog at its last report, up from about $200B three quarters earlier. If neoclouds fold, AWS is ready to serve the demand and its backlog will keep growting. Microsoft Azure and Google Cloud also benefit, and he asks what the stock market cares about more, Nebius and CoreWeave or Microsoft and Alphabet.
“If you're AWS... AWS hit 28% growth in the April quarter, 37% growth in the July quarter, they reported $496,000,000,000 in backlog for AWS the last time they reported.”at 53:59
Prof G Markets: Josh Brown: If This Is A Bubble, It’s Pathetic ·
Scott Galloway · NYU Stern School of BusinessBullish
Amazon's retail unit could become a massive high-volume, reasonable-margin business via robots and AI.
Galloway names Amazon his big tech pick for 2026 and says AWS will be a serious unlock. He thinks the retail unit is the real story, a collision between industrialized robots and AI. Jassy says the company can double retail by 2032 without one incremental hire, and retail is Amazon's largest business by dollar volume. That turns a large, low-margin top line into one with reasonable margins. Amazon has about a million robots versus 400,000 industrialized robots in America.
“I think it's return or the empire strikes back around the retail unit because what I see is a collision between industrialized robots and AI.”at 1:00:20
Prof G Markets: Josh Brown: If This Is A Bubble, It’s Pathetic ·
Josh Brown · Ritholtz Wealth ManagementBullish
Robots-as-a-service could become a major Amazon business in about three years, like AWS.
Brown likes Galloway's idea and thinks robots-as-a-service is about three years away. He draws a parallel with AWS, which began as internal infrastructure before being opened to others. He suggests Amazon could offer a fleet of millions of capable robots that customers rent rather than own. He says it is not impossible this becomes important.
“I like that idea. I think it's three years from now, but robots as a service, the same way that AWS was initially conceived as being for internal use.”at 1:00:48
Prof G Markets: Josh Brown: If This Is A Bubble, It’s Pathetic ·
Jim Cramer · CNBCBullish
Amazon is a buy: AWS growth and record margins outweigh the retail miss and sell-off.
Amazon missed on top and bottom line, with weak domestic and international retail, and its fourth-quarter outlook disappointed. Cramer argues the quarter was stronger than the headlines. AWS is a $180 billion run-rate business growing 39%, and he cares much more about it than low-margin retail. Operating income was nearly $2 billion above consensus, and the 13.9% operating margin was the highest in company history. The EPS shortfall came from higher interest expense after heavy debt issuance. He calls Amazon a buy and says his trust owns it.
“I care much more about AWS, a $180,000,000,000 run rate business, growing an astounding 39... than I care about the low margin retail businesses at this point.”at 7:03
Mad Money with Jim Cramer: Mad Money w/ Jim Cramer 10/29/26 ·
Karen Finerman · Metropolitan Capital AdvisorsBullish
Amazon's post-earnings selloff is overdone; the business and story remain intact despite the ad miss.
Finerman says the stock has fallen a lot even though the bar it had to clear rose and the earnings were not terrible, so the selloff looks overdone. She expects it may last a couple more days. She acknowledges the advertising miss matters because advertising is a high-margin business. She also notes open questions about the return on invested capital from the capex and says she would like numbers on it, but she says the business and story are still intact and the valuation reset is significant.
“I think it's somewhat overdone. I wouldn't be surprised if this lasts for a couple of more days or so, but I think that the business is still intact. I think the story is intact.”at 11:57
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Dan Nathan · RiskReversal MediaBearish
Amazon's advertising miss could be a problem on both retail and ads, a headwind to its high-margin moat.
Advertising grew 11-12% year over year, below the Street's expectation of about 18%. Nathan says advertising is a great-margin business, so a shortfall combined with a potential headwind from agentic AI shopping could be a problem on both the retail and advertising sides. He adds that Amazon will defend its moat and that nothing in the quarter or guidance makes the stock a buy, even though the selloff may be a bit overdone.
“if it's coming in below expectations and now you have this potential headwind of news, right, this could be a problem, not just on the retail sales side, but also that advertising side.”at 13:25
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Tim Seymour · Seymour Asset ManagementBullish
AWS growth back to mid-40s and triple-digit backlog growth make Amazon's selloff unwarranted; not a reason to sell.
AWS growth of about 39% beat the consensus of 38%, and management guided to over 40% AWS growth for 2027 and 2028. Seymour argues that returning to the mid-40s is a great story, backed by an order backlog above $578B that has grown triple digits year over year. He says the retail and consumer concerns are not the right reason to sell Amazon, and that the AWS print is what investors should be happy about.
“back into the mid 40s is a great story, especially with an order backlog that he also pointed out is north of $578,000,000,000 has grown triple digits year over year.”at 16:08
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Gene Munster · Deepwater Asset ManagementUncertain
Personalized AI shopping bots will reshape commerce and likely hurt Amazon's business starting late 2027.
Munster says personalized bots are nascent today and will become a larger part of the conversation. He expects them to start affecting Amazon's business late in 2027. Usage is fractional now, but he expects it to be widespread within a couple of years. People who use these bots say they have changed how they start their buying experience, which he argues affects both Google and Amazon. He also calls the narrative potentially a house of cards, since Amazon could adapt to bots.
“these personalized bots are gonna become an increasingly part of the conversation. They're nascent today. Probably starts impacting their business late in 2027.”at 18:47
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Gene Munster · Deepwater Asset ManagementBullish
Amazon's two-year AWS growth guidance is the most bullish AI data point in months, a strong cloud endorsement.
Munster calls the two-year AWS segment guidance an over-the-top endorsement of how management sees cloud playing out, which is unusual because companies normally guide one quarter at most. He links it to the backlog, to the capacity being built, and to Meta's plan to raise spending sharply next year. He argues the stock move hides the significance of the guidance, which should not be lost. He also says the AI capex needs funding but is well spent because demand is strong, and that equity would be his preferred way to raise it.
“This is probably the most bullish data point in AI over the past three or six months of all the data points that we get.”at 19:22
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Gene Munster · Deepwater Asset ManagementUncertain
Amazon's AWS capex is meaningful and a once-in-a-lifetime opportunity; Amazon now positions itself as an AI company.
Amazon described its capex spend supporting AWS growth as meaningful. Management sees it as a once-in-a-lifetime opportunity. Munster says there may be some impact from that spending. He concludes that Amazon has repositioned itself as an AI company and is telling investors to focus less on retail.
“But Amazon did give some commentary about the CapEx spend to support this AWS growth. And they said that it will be meaningful. They see this as a once in a lifetime opportunity.”at 46:43
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Karen Finerman · Metropolitan Capital AdvisorsBullish
Finerman believes in Amazon and AWS, citing good numbers.
In her final trade, she says she believes in Amazon and in AWS. She points to the quarter's results as good numbers. The case is brief and rests on the AWS results from the report.
“I believe in Amazon. I believe in AWS. Those are good numbers.”at 47:16
CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 ·
Anurag Rana · Bloomberg IntelligenceBullish
AWS growth above 40% into 2027-28 is strong; the stock sell-off is overdone.
AWS sales grew 39%, roughly in line with estimates, and investors seem disappointed it did not beat by a bigger margin. Management expects AWS growth above 40% in 2027 and 2028, which he sees as very strong given the point in the cycle. AWS has operating margins close to 39%, a very good business. Its roughly $180 billion run rate growing 40% a year is commendable. Heavy spending and the current cash-flow drain are early in the cycle; as Amazon gains market share it will sell additional services such as application modernization, and the backlog on its balance sheet supports the investment.
“They're expecting AWS sales to be above 40% into '27 and '28. I think that's also very, very strong numbers given where we are in the cycle.”at 9:15
Bloomberg Talks: Earnings Special: Intel Plunges on PC Sales Slump & Amazon Slips ·
Tom Forte · Maxim GroupBullish
Amazon's AWS was strong, but the Q4 retail quarter is at risk from gas prices; expects a rebound.
AWS performed very well and looks set for a seventh straight quarter of accelerating growth. However, Q4 is Amazon's big retail quarter, and consumers appear to be increasingly hit by higher gas prices and a challenging macro backdrop. He thinks expectations got ahead of themselves and that the decline is driven by Q4 retail concerns, with the stock likely to rebound once the earnings call clarifies the AWS strength and near-term retail challenges. He rates the stock a buy with a $350 target.
“So I think that the way that I look at the quarter is very good performance from AWS. Maybe expectations got a little ahead of themselves”at 19:28
CNBC Closing Bell: Closing Bell Overtime: Big Tech Faces Another Earnings Test 10/29/26 ·
Tim Seymour · Seymour Asset ManagementBullish
Amazon's post-earnings AWS and capex selloff is overdone; the stock is cheap relative to itself.
Seymour says the AWS result missed an expectation the whispers had pushed to the mid-40s percent growth range, and the Q4 outlook is mid-to-high 40s. He calls the capex number the most aggressive he has seen so far. He says he is comfortable with Amazon over-investing for the future and that the retail miss is fine if it is cyclical. He sees the growing operating margin story as underappreciated and argues the stock is range-bound for 1.5 years and cheap relative to itself. He notes it trades at about 30 times, versus about 21 for peers. He says Anthropic's growth could be Amazon's gain on the retail side and that he is less concerned about return on investment because the core business and AWS are supported by the world's needs. He thinks the market wants more capex discipline, but says that is a leap from a couple of days of trading.
“I think we appreciate the dynamic. First of the growing margin story at Amazon, I think, is underappreciated.”at 42:11
CNBC Closing Bell: Closing Bell Overtime: Big Tech Faces Another Earnings Test 10/29/26 ·
Mark Mahaney · Evercore ISIBullish
Amazon needs 40%+ AWS growth and near-40% margins; free cash flow revisions likely positive, bullish into print.
Mahaney says Amazon probably needs to deliver 40%-plus AWS growth and hold AWS margins near the roughly 40% reported last quarter, with a healthy backlog increase like Azure and Google Cloud showed. He expects all three to come through and thinks free cash flow revisions are more likely positive than negative. If so, he sees a lot of upside in the stock; if not, the stock stays where it is. He is not certain of the outcome but leans toward a good print.
“They probably need to do 40% plus AWS growth and show that AWS margins, are close to 40% last quarter, stay at that same level.”at 3:34
Mark Mahaney · Evercore ISIBullish
Amazon has financed its AI build-out; no equity raise needed, so capital needs are a positive catalyst.
Mahaney says hyperscaler free cash flow expectations have swung sharply: the view at the start of the year was about $200B of positive free cash flow next year, and it is now about $100B negative. Amazon raised roughly $100B of debt over the last twelve months, and he thinks its planners have already solved for the investment needs over the next 12 to 24 months. Amazon has not sold equity since its 1995 IPO and dislikes dilution, and he expects it can cover needs through debt markets if required. He would treat any sign of additional capital needs as a negative catalyst, but he currently expects the financing to be solved.
“Amazon doesn't do equity raises. The last time they did was at their IPO twenty six years ago... They raised a 100,000,000,000 over the last twelve months. ... my guess is that they have financially solved for it.”at 5:22
Mark Mahaney · Evercore ISIBullish
Agentic shopping unlikely to pull Prime households from Amazon if it keeps price, selection and convenience.
Mahaney accepts the narrative that personalized AI bots could become the starting point for shopping and says it will grow in the market. He argues Amazon wins on price, selection and convenience and has a loyal Prime base, so it is highly unlikely an agentic experience pulls Prime households away. He notes Amazon still needs to improve Rufus and Alexa shopping and build its own agentic offering. If it keeps pushing those three levers, he sees no agent-to-commerce risk to Amazon, though he acknowledges it is possible.
“I think it's highly unlikely that an agentic experience is gonna pull people away from prime... I don't think there's an agent to commerce risk to Amazon.”at 11:27
Stephanie Link · Hightower AdvisorsBullish
Amazon's 17x multiple for fast-growing AWS is attractive; expects AWS growth and margins to deliver.
Link says Amazon has beaten consensus in 12 of the last 14 quarters, an 86% beat rate, so she expects a fine quarter. AWS drives about 60% of operating income and she expects operating margins of roughly 39-40%. She points to Azure at 48% and Google Cloud at 103% with strong backlogs, and expects AWS growth in the low 40s versus 37% last quarter. The stock is down 13% from August highs and up only 6% year to date, trading at 17 times earnings. She finds that attractive for a business with a large growing piece, though she notes there are many moving parts.
“It's trading at 17 times, 17 times for 60% of the business that is gonna grow in the low forties to me is very attractive.”at 12:12
Bill Baruch · Blue Line CapitalBullish
Amazon's stock can rerate higher if AWS growth reaccelerates and capex timeline is pulled in.
Baruch, who holds Amazon, says the market's focus is AWS growth. Street expects about 38.4% AWS growth against whisper numbers as high as 41%, and he says a print in the low 40s or 42% would push the stock higher. He calls the roughly $220B capex, with free cash flow turning negative, the elephant in the room, and says a credible timeline to pull capex in from 2028 would let the stock rerate. He cites a $496B AI backlog and Trainium and Bedrock as further catalysts. He is not yet worried that a capex dip would signal a warning, and sees the consumer still leaning on Amazon and prime timing normalizing as support. He sees technical support at the end-of-July earnings gap and the 200-day moving average, with the stock able to reach the stated target if the report and response are good.
“But if they can start to show something here that they're gonna bring this in sooner than '28, that's gonna be a really great for the stock, especially given the AI backlog.”at 43:56
Josh Brown · Ritholtz Wealth ManagementUncertain
Amazon's blocking of outside shopping bots is a real concern, but its own Rufus bot may defend it.
Brown says Amazon is blocking outside personal bots from hitting the site or completing transactions. He thinks that concern is absolutely true, but he does not know how big it is or how quickly it will show up in the numbers. Amazon's answer is Rufus, its shopping bot in the site and app. Brown says he is not sure Amazon cannot match or partner with outside agents if users pick a better one, so the threat is not settled.
“Well, Amazon, basically is blocking other people's personal bots from hitting the site or completing transactions because I think that is absolutely true. That is a concern. I don't know how much of a concern it is or how quickly, like, it'll show up in the numbers.”at 21:21
CNBC Halftime Report: Tech Earnings Weigh on the AI Trade 10/29/26 ·
Gene Munster · Deepwater Asset ManagementBearish
Amazon must navigate AI assistants that could absorb its one-stop shopping value proposition.
If personalized bots become the starting point for shopping, Amazon's main value proposition, finding everything under one roof, could move into the bot. Amazon will have to navigate that shift. This is a mechanism-based risk rather than a call on near-term results.
“Amazon's going to have to navigate it if in fact, the personalized bot becomes your starting point, then one of the value props of Amazon being able to find everything you want under one roof becomes everything you want within your bot.”at 21:07
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
Josh Brown · Ritholtz Wealth ManagementBullish
Amazon is undervalued versus hyperscaler peers; growth outpacing capex could take the stock to $275.
Brown owns Amazon personally. Its EPS has risen steadily while the stock has barely moved over three years. Amazon trades at 16.6x trailing cash flow, below Microsoft at 20.9x and Alphabet at 21.6x. He calls the physical-business discount a bullshit discount. AWS revenue grew 36.7% and backlog rose from $200B to $496B. He argues Amazon's own chips and cheap borrowing make its capex a moat, which looks more attractive as neocloud credit tightens, with CoreWeave bonds at 15-16%. The market has punished capex that runs ahead of growth, and it rewarded July's 37% AWS growth despite a higher capex plan. If Thursday's report shows growth outrunning spend and capex guidance stays contained, the stock could reach $275.
“If Jassy delivers, keeps a lid on upward guidance to CapEx spend the way that Meta did and can demonstrate that AWS revenue is outpacing the spend, this could be a $275 stock.”at 30:18
The Compound and Friends: Dirty Dozen Charts, Anthropic’s S-1, Amazon Earnings Preview, Cost of Capital Hits AI ·
Richard Walker · Iceland FoodsBearish
Online giants like Amazon get a free ride on business rates; they should be taxed.
Walker argues the UK's business rates system is an outdated Victorian tax on bricks and mortar. Iceland is one of the largest taxpayers in the UK even though many bigger businesses pay less. He says online giants should pay their fair share and that the playing field should be level, not a free piggyback for Amazon. He speaks as one of the largest online retailers in the UK, so Iceland competes with Amazon. The view is about tax policy, so the bearish stance reflects the expected hit to Amazon's UK tax position rather than a specific earnings call.
“So let's start taxing the online behemoths and their fair share. And I'm saying that as one of the largest online retailers in The UK as well. I just want the playing field to be level and not for the likes of Amazon to be getting a free piggyback.”at 8:05
Bloomberg Talks: Iceland Chairman Richard Walker Talks 'Bold' UK Budget ·
Courtney Garcia · Payne Capital ManagementBullish
Amazon benefits from Anthropic's IPO as a large investor and from cloud compute demand.
Garcia names Amazon and Alphabet as secondary beneficiaries of the Anthropic deal. Both are large Anthropic investors and will get a bump if the IPO goes well. They also benefit later, as Anthropic's cloud compute spending flows to them. She suggests investors look at these angles because the pure-play exposure may already be priced in.
“Amazon and Alphabet who are large investors of Anthropic and will get a bump from that if it does IPO positively”at 9:39
CNBC Fast Money: Anthropic’s long-awaited IPO filing... And next Fed decision on deck 10/26/26 ·
Jason Draho · UBS Global Wealth ManagementBullish
Amazon's AI capex plans unlikely to change despite higher borrowing costs, given its balance sheet.
Amazon is one of four hyperscalers that together account directly or indirectly for about 75% of expected AI-related capex this year and next. These firms have, on average, AA credit ratings, market caps above $3 trillion, diversified businesses, long profitability track records and balance sheets that can take on much more debt. Their returns on capital are above 25%. A rise of one or two percentage points in borrowing costs would raise the price of funding but is unlikely to materially change how much they spend.
“These are companies that have, on average, AA credit ratings, market caps over $3,000,000,000,000 diversified businesses, long track records of profitability, and really balance sheets that can take on a lot more debt at this point in time.”at 7:26
UBS On-Air: Top of the Morning: CIO Strategy Snapshot - An assessment of recent market pricing ·
Lindsay Owens · Groundwork CollaborativeBearish
Agentic shopping is a real threat to Amazon, as shoppers move purchases to AI agents.
Owens cites anecdotal evidence that people who used to shop heavily on Amazon now use the AI shopping agent Muse and are buying more things off Amazon than they have in years. She notes that Amazon blocked Muse from its site while its own Alexa for Shopping operates beyond Amazon's walls, which she says is not playing by the same rules. Some people at Y Combinator see agentic commerce as the first real opening to hurt Amazon. She concludes that this is a real threat to Amazon. The evidence is anecdotal, so the strength of the claim rests on that.
“we are already seeing anecdotal evidence of folks who used to do quite a bit of shopping on Amazon who are now using Muse and have bought more things off Amazon than they have in years. And I think this is a real threat to Amazon.”at 48:02
Odd Lots: AI Agents Are Already Changing the Price of Goods ·
Shawn O'Malley · The Investor's Podcast NetworkBearish
Amazon's block on outside shopping agents is unsustainable as AI shopping spreads.
Amazon blocked Muse from its site while wanting its own agents to shop everywhere else, which Shawn calls having its cake and eating it too. Amazon may get away with it for now, but Shawn does not think it is sustainable. Common standards like the UCP, which Amazon has joined, mean outside agents will need access to Amazon's catalogue. The UCP's open rails also help Amazon's own agents work outside Amazon. Shawn thinks Amazon will try to maintain the status quo for as long as possible.
“I think it wants its own agents to shop everywhere else while keeping other companies' agents out of Amazon. And maybe they can do that for now, but, I I I don't think it's sustainable.”at 44:31
We Study Billionaires: TIP855: Shopify (SHOP): The Big Winner of Agentic Commerce? w/ Shawn O'Malley & Daniel Mahncke ·
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