Tech giant Amazon.com Inc. (NASDAQ: AMZN) faces pressure heading into earnings, with shares trading below $240. Wall Street looks for strong performance from AWS, e-commerce, and advertising to boost the stock, with price targets projecting a 25% upside. Q4 guidance and Prime Day sales will impact investor sentiment.

Investors can take an aggressive approach by buying before earnings, banking on Amazon’s track record. Alternatively, a cautious strategy involves waiting for a breakout above $240 for confirmation of bullish momentum. The broader market sentiment and indices hitting record levels provide additional support for investors.

Amazon’s strong fundamentals, scale, and balance sheet make it a top tech stock. However, the upcoming earnings report will test the bulls’ conviction as the stock faces resistance. Solid growth and tailwinds might not be enough to propel Amazon higher, making an exceptional earnings report crucial for a potential run to $280.

Read more at Nasdaq: Amazon Earnings: What’s Needed for a Breakout to New Highs?