Amazon shares are trading sharply higher on November 9, 2026, around the $268–$269 level after JPMorgan added the stock to its Focus List, citing AWS revenue growth accelerating to 39.3% in Q3—the fastest pace in nearly five years—along with a $578 billion backlog and expectations for 40%+ growth in 2027–2028. This follows the post-earnings selloff after October 29 results, when investors focused on the company’s $220 billion 2026 capex plan and trailing free cash flow turning negative at $42.4 billion despite record 13.9% operating margins. Broader tech gains and favorable positioning among hyperscalers amid data-center constraints are supporting momentum into the close, with consensus price targets clustered near $325–$330.