David Bailin argues that investors are overestimating earnings expectations and underestimating the long-term impact of AI. He explains why hyperscalers like Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOGL) remain attractively valued and why the AI buildout and adoption cycle still has plenty of room to run.

Amazon (NASDAQ: AMZN | AMZN Price Prediction) and Shopify (NASDAQ: SHOP) sit on opposite sides of the same retail transaction.

Goldman Sachs is sounding alarms as hyperscalers pile on debt at a pace the credit markets are struggling to absorb, and the window for AI companies to prove their investments pay off is narrowing fast.

Apple (NASDAQ: AAPL | AAPL Price Prediction) and Amazon (NASDAQ: AMZN) both grew revenue 16.6% in their most recent quarters, yet the businesses beneath those matching numbers could hardly look more different.

Amazon's $200 billion in AI spending is supported by strong demand for its Trainium chips and contracted revenue. Trainium's $20 billion annual revenue run rate suggests Amazon's AI investments are already paying off.

Duncker Streett and Co. Inc. trimmed its holdings in Amazon.com, Inc. (NASDAQ: AMZN) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,025 shares of the e-commerce giant's stock after selling 7,758 shares during the quarter. Amazon.com comprises about

Capstone Wealth Management Group LLC lowered its position in Amazon.com, Inc. (NASDAQ: AMZN) by 30.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,382 shares of the e-commerce giant's stock after selling 7,025 shares during the period. Amazon.com accounts for approximately 1.4% of Capstone

Flatrock Wealth Partners LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ: AMZN) in the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,352 shares of the e-commerce giant's stock, valued at approximately $2,364,000. Amazon.com comprises approximately 1.1% of

Elon Musk's public praise of Anthropic reinforces Amazon and Alphabet's hidden AI investment advantage. Investors should separate paper valuation gains from sustainable operating earnings as AI enthusiasm remains elevated.

Clearwave Capital LLC increased its position in shares of Amazon.com, Inc. (NASDAQ: AMZN) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,306 shares of the e-commerce giant's stock after acquiring an additional 2,529 shares during the period. Amazon.com