11:06 AM EDT, 10/22/2025 (MT Newswires) -- Amazon ( AMZN ) is expected to see retail upside in Q3 with BofA holding a quarterly revenue estimate of $179.2 billion, above Wall Street view of $177.7 billion, BofA said in a Wednesday note.

BofA said data from Bank of America and Bloomberg Second Measure indicate online spend growth rising in Q3. It also saw potential for operating income upside on Amazon ( AMZN ) with its GAAP operating profit forecast of $20.4 billion, about 4% higher than Wall Street's estimate on "healthy" retail sales, "strength" in online advertising and July Amazon Web Services layoffs.

Looking ahead, BofA expects Amazon's ( AMZN ) revenue guidance in the range of $202 billion to $209 billion, and operating income of $18 billion to $22 billion, compared with Wall Street view of $208 billion and $23.7 billion, respectively.

Regarding concerns over Amazon Web Services' artificial intelligence positioning, BofA said Amazon ( AMZN ) could be in a "better position to highlight capacity and Trainium3 benefits for AWS in 2026" on account of backlog growth accelerating last quarter, growing key AI partner Anthropic, as well as ramping up of Project Rainier capacity in H1 2026.

BofA has a buy rating on the stock, with a price target of $272.

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