Amazon shares have traded in a tight range near $260–$265 through the week of August 24 amid ongoing momentum in AWS and artificial intelligence infrastructure. Q2 results released July 30 showed 37% AWS revenue growth to a $169 billion annualized run rate and a substantial non-operating gain tied to Anthropic, lifting operating income 43% year-over-year and reinforcing margin expansion. On August 28, the stock surged more than 3% intraday after Evercore ISI raised its price target to $355, while fresh power-purchase agreements highlighted continued capital deployment. With the two leading bins ($260–$265 and $265–$270) nearly even, trader positioning reflects uncertainty over whether Friday’s close will hold above or below the $265 threshold amid elevated volatility and broad tech sentiment.