Amazon will issue $25 billion in new debt to help finance its AI infrastructure build-out. It already has some clients secured for its next set of data centers.

Jed Ellerbroek discusses the market's digestion of strong second-quarter gains, the impact of U.S.-Iran tensions on oil prices, and what's ahead for cyclical stocks. He highlights upcoming earnings from Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META) and Microsoft (MSFT).

Amazon is the largest cloud computing company, and AWS revenue has started to accelerate. Microsoft has been seeing strong growth, but its internal technology has lagged.

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Bubbles follow a general pattern, and when debt-fueled speculation is involved it can get very ugly.

$2.6 trillion. That is what Amazon (NASDAQ:AMZN | AMZN Price Prediction) is worth as of July 2, 2026, sitting on 10.76 billion shares at a closing price of $242.67.

In the eight-plus months since Amazon announced its most expansive job cuts ever, laid off workers have been thrust into an increasingly saturated labor market. With companies like Cisco, Meta, Microsoft and Oracle also announcing major cuts, and May representing the sharpest month for tech layoffs since 2024, many former Amazon employees are struggling to figure out what's next.

The State Street Utilities Select Sector SPDR ETF (XLU) has long been viewed as a defensive investment, preferred by investors seeking stable cash flows, consistent dividends, and lower volatility.

Amazon's cloud unit, AWS, grew 28% last quarter, its fastest in 15 quarters. Operating margin reached a record 13.1%.

Amazon trades at a lower forward P/E than Walmart and Costco despite stronger long-term growth drivers. Walmart and Costco command premium valuations because investors pay up for predictable, resilient earnings.