11:10 AM EDT, 08/01/2025 (MT Newswires) -- Amazon.com's ( AMZN ) cautious tone on its Amazon Web Services business at its Q2 results has overshadowed its retail strength, Oppenheimer said in a Friday note.

"Investors frustrated with lack of positive 2H25 AWS commentary, as capacity issues will persist until at least year-end," it said.

Still, the note pointed to AWS AI revenue that continued to grow triple-digits from a year ago amid early AI usage within AWS.

Oppenheimer cut its price target on the stock to $245 from $250 while keeping its outperform rating.

Shares of Amazon ( AMZN ) were down over 6% in recent trading.

Price: 219.73, Change: -14.38, Percent Change: -6.14