AMZN Stock Explained: What Amazon's Own Filings Show

In three months Amazon sold more than 200 billion dollars of products and services, up 20 percent in a year, and by our math the part that grew fastest isn't the online store. Its own quarterly and annual filings show where the money comes from, what it is spending on and what it flags; where we do our own math, we say so.

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AMZN stock explained with the company's own numbers: sales up 20% in the June 2026 quarter; where the money comes from (online stores, third-party seller services, AWS, advertising, subscriptions and physical stores); AWS up 37% and its share of operating income; the approximately $496 billion of contract commitments not yet recognized; why net income jumped (gains on Amazon's stake in Anthropic); capital spending for technology infrastructure and free cash flow; the investments in OpenAI and Anthropic; buybacks (none in the first six months of 2026); and three things Amazon flags: new bets including AI, chip suppliers, and the courts. Facts, not financial advice.

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Chapters
0:00 Intro
0:46 The Money
1:43 The Cloud
2:32 The Profit
3:25 Building for AI
4:57 For Shareholders
5:09 What It Flags
5:57 Three Things To Watch

Sources
- Amazon.com, Inc., Form 10-Q, quarter ended June 30, 2026: https://www.sec.gov/Archives/edgar/data/1018724/000101872426000026/amzn-20260630.htm
- Amazon.com, Inc., Form 10-K, 2025: https://www.sec.gov/Archives/edgar/data/1018724/000101872426000004/amzn-20251231.htm
- SEC, Investor.gov, Form 10-K: https://www.investor.gov/introduction-investing/investing-basics/glossary/form-10-k
- SEC, Investor.gov, Form 10-Q: https://www.investor.gov/introduction-investing/investing-basics/glossary/form-10-q

Research and fact-checking: Wealth Filings. Henry is a fictional, illustrated presenter. This video is for information only, not financial advice.