$Amazon(AMZN.US) is optimistic about Amazon's Q4 earnings report tomorrow. Seeing the growth and profits of Google Cloud and AI advertising in Google's earnings report will only boost Amazon's current valuation. Amazon's advantage lies in its stock price being at the low end of the range and stagnating for nearly two years. The massive capital expenditure starting in 2024 has reaccelerated AWS's growth, with annualized growth returning to over 20%, and it's not driven by price cuts but by natural expansion in computing power, AI, and corporate demand. The only concern is whether the capital expenditure in 2026 will also surge, especially since short-term market funds have been irrationally selling off recently!