Amazon Shares Jump 2.5% as Prime Day GMV Forecasts Hit $26.3B
AMZN•Amazon shares rose 2.48% on June 24 as analysts forecast Prime Day gross merchandise value between $21.6B and $26.3B and Alexa for Shopping rollout boosted conversion rates. Q1 revenue reached $181.5B up 17% with AWS growing 28%, while the stock’s 1.4B shares held across 723 ETFs could amplify market impact.
1. Prime Day Performance
On the second day of its four-day Prime Day event running June 23–26, Amazon shares climbed 2.48% as forecasts projected between $21.6 billion and $26.3 billion in online sales, driving strong intraday momentum.
2. Alexa for Shopping Impact
Launched in May 2026, Alexa for Shopping personalized deal recommendations based on user history, increasing conversion rates despite similar browsing volumes.
3. AWS Q1 Growth
In Q1, Amazon reported $181.5 billion in revenue, up 17% year-over-year, buoyed by a 28% increase in AWS revenue, underscoring ongoing cloud demand.
4. ETF Market Implications
Amazon is a top holding in 723 consumer-and-retail ETFs, representing about 1.4 billion shares; funds like GXPD and XLY allocate roughly 39% and 26% respectively, making Prime Day results a potential catalyst for broader ETF flows.
