Amazon Q4 earnings today: Amazon is expected to report $211.5 billion in Q4 revenue, a potential all-time quarterly record. That single number will drive Amazon stock today. Investors are watching AWS growth near 22%. AI spending of $125 billion is the pressure point. Guidance for 2026 matters most. Margins, free cash flow, and capex signals will decide whether Amazon stock breaks above $255 or slips toward $222.
