Amazon Q4 2025: The $200B AI Infrastructure Regime and the Hidden Profit Engines Wall Street Is Mispricing
Amazon posted $213.4B in revenue and $25B in operating income, and still got punished. The market is fixated on a penny EPS miss and a jaw-dropping capex number. We think the more interesting story is buried underneath: AWS just hit an inflection point, custom silicon quietly became a $10B+ business, and a million robots are restructuring e-commerce margins in real time.