Amazon shares closed at $259.53 on October 12, 2026, down 1.1% after Cantor Fitzgerald and Wells Fargo lowered price targets to $310 and $329 respectively while maintaining overweight or equivalent ratings. The move weighed on sentiment amid broader tech rotation, though trailing twelve-month revenue reached $775.68 billion with 15.8% growth and net income of $135.28 billion. AWS continues to drive results, with prior-quarter sales up 37% year-over-year and operating income expanding sharply. Traders are now focused on the October 29 Q3 earnings release, where consensus calls for roughly $202 billion in revenue and $1.96 EPS, alongside any updates on AI infrastructure spending and margin trends that could shift near-term valuation multiples.