Amazon: 3 Key Takeaways for Long-Term Investors

On its third-quarter 2026 earnings call, held on Oct. 29, 2026, Amazon (NASDAQ:AMZN) projected that Amazon Web Services (AWS), its cloud computing arm, can become a trillion-dollar revenue business within the next five to 10 years. Capital expenditures, or capex, are increasing to meet massive artificial intelligence (AI) infrastructure demand while retail operating margins expand.

Three key takeaways from management's call explain how these investments shape the long-term outlook for shareholders.

AWS accelerated its revenue growth to 39.3% year over year in the third quarter. The segment reached an annualized revenue run rate of $184 billion as expanding cloud migrations and enterprise demand for AI compute capacity drive multiyear commitments.

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