Amazon's 2026 Bull Case Isn't Retail — It's AWS, AI And Margin Discipline

Amazon.com Inc's (NASDAQ:AMZN) investment case heading into 2026 is no longer about e-commerce dominance. JPMorgan says the real upside sits in AWS acceleration, AI-led share gains, and a margin story that's finally beginning to show discipline.Track AMZN stock here.After years of heavy reinvestment, Amazon is entering a phase where scale, automation, and AI monetization start working together. That shift, JPMorgan argues, is what sets up the stock for the next leg higher.Read Also: Amazon’s $150 Billion AI ...