Amazon.com, Inc. (NASDAQ:AMZN) shares are up on Friday as the company is expanding its partnership with Meta Platforms, Inc. (NASDAQ:META) to deploy AWS Graviton processors at scale.

Amazon And Meta Expand AWS Graviton Partnership

Meta has penned an agreement to utilize AWS Graviton processors, marking a significant expansion of their partnership.

This deployment will begin with tens of millions of Graviton cores, allowing Meta to enhance its AI capabilities, which require substantial processing power.

With this deal, Meta is now one of the largest Graviton customers in the world.

The chips will power various workloads at Meta, including supporting the company’s AI efforts.

That work requires infrastructure capable of handling billions of interactions while coordinating complex, multi-step agent workflows.

Amazon Technical Analysis

Amazon is trading near its 52-week high, reflecting strong bullish momentum. The stock is currently 12.3% above its 20-day simple moving average (SMA) and 18.9% above its 50-day SMA, indicating a robust short-term trend.

The relative strength index (RSI) is at 77.33, suggesting that the stock is in overbought territory, which may indicate a potential pullback. This high RSI level typically reflects strong buying pressure, but traders should be cautious as it could signal a reversal.

  • Key Resistance: $258.50 — A level where selling pressure may emerge.
  • Key Support: $226.50 — A level that could provide buying interest if tested.

Amazon has shown a strong 12-month performance of 38.59%, indicating a positive long-term trend. This performance suggests that the stock has been on a solid upward trajectory, attracting investor interest.

Earnings Preview And Analyst Price Targets

The countdown is on: Amazon.com is set to report earnings on April 29, 2026 (confirmed).

  • EPS Estimate: $1.64 (Up from $1.59)
  • Revenue Estimate: $177.31 Billion (Up from $155.70 Billion)
  • Valuation: P/E of 35.6x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $290.81. Recent analyst moves include:

  • Oppenheimer: Outperform (Raises Target to $275.00) (April 24)
  • UBS: Buy (Raises Target to $304.00) (April 23)
  • BMO Capital: Outperform (Raises Target to $315.00) (April 23)

Top ETFs With Significant AMZN Exposure

  • Trenchless Fund ETF (NYSE:RVER): 9.84% Weight
  • Franklin Focused Growth ETF (NASDAQ:FFOG): 8.74% Weight
  • Dana Unconstrained Equity ETF (NYSE:DUNK): 9.10% Weight

Significance: Because AMZN carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

AMZN Price Action: Amazon.com shares were up 2.74% at $262.08 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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