July 31, 2026 04:36 AM GMT Amazon.com Inc | North America AWS's Rule of 70 and ROIC Deliver AWS delivered accelerating growth, surging profitability and a better backlog to give the market even more confidence in ROIC ahead. Retail was generally in-line but signal on grocery, robotics and agentic are all building. Raise EPS '27/'28 EPS by 2%/3%, PT to $335 (30% upside), OW. AWS's Rule of 70 Showcases GenAI ROIC: AWS's ~840bp growth acceleration to 36.8% y/y growth (vs us at 34%) speaks to its pole position ...