Post-Earnings Record Draws Bulls to Amazon.com Stock

Core Insights - Amazon.com Inc's stock increased by 10.5% to $245.86 after surpassing third-quarter earnings and revenue estimates, indicating renewed confidence in Big Tech [1] - The company reported a 20% revenue increase in its cloud computing segment, Amazon Web Services (AWS), and benefited from AI investment gains from startup Anthropic [1] - Amazon issued a positive fiscal fourth-quarter forecast despite laying off 14,000 employees earlier in the week [1] Stock Performance - The stock has received over 20 price-target increases, with Wedbush raising its target from $330 to $280, and all 58 brokerages covering Amazon rating it as a "buy" or better [2] - The 12-month consensus target price is now $278.62, representing a 13% premium to current levels [2] - Amazon's stock is on track for its best day since April, having reached a record high of $250.50, and is experiencing its sixth gain in the last seven sessions, with a 31.8% year-over-year increase [2] Options Activity - There has been significant activity in the options market, with 1.02 million calls and 491,000 puts traded, which is five times the typical volume [3] - The most active options contracts are the weekly 10/31 250-strike call and the 240-strike put, with new positions being opened in both [3] - Both of these contracts are set to expire at the close [3]