Amazon to round of big tech earnings. Here's what to know

Core Insights - Amazon is under pressure to demonstrate a solid plan to maintain its leading position in the cloud market, especially with increased capital expenditures from competitors like Google, Meta, and Microsoft [2][5] - AWS currently holds a 30% market share, significantly ahead of Microsoft Azure at 20%, but faces challenges as competitors grow their cloud revenues at a faster rate [2][3] - Amazon's backlog is weaker compared to Microsoft and Oracle, which could impact future revenue growth, although AWS CEO Matt Garmins notes that backlog is not a perfect metric for gauging future performance [3] Company Positioning - Amazon has lost significant AI workloads to competitors, with Anthropic expanding its partnership with Google Cloud and Meta signing a new contract with Alphabet for compute services [4][5] - The key question for Amazon heading into earnings is whether it can match competitors' capital expenditures and demonstrate a return on investment from that spending [5]