As Amazon.com Inc (NASDAQ: AMZN) gears up to announce its Q2 earnings on Thursday after the market close, anticipation is building around what could be a remarkable performance.

With just six days to go, BofA Securities' analyst Justin Post has painted an optimistic picture for the e-commerce and cloud giant, with a $220 price target (a potential 22.3% upside) and maintaining a Buy rating.

Aiming For A Q2 Beat: $149 Billion Revenue In Sight

Post forecasts Amazon's Q2 revenues to hit $149 billion, 40 basis points above Wall Street's expectations. AWS is expected to grow at 18% year-over-year, beating the Street's 17% estimate.

With a projected operating profit of $14 billion, Amazon might surprise investors by exceeding expectations, potentially reaching as high as $15-$16 billion due to favorable factors like third-party fees and Prime advertising growth.

Retail Sales, Cloud Powering Growth At Amazon

Data trends suggest a promising Q2 for Amazon. Online spending growth has accelerated, according to BofA's aggregated card data and Bloomberg Second Measure, contradicting the Street's prediction of a more significant decline.

According to Post, AWS is set to benefit from robust backlog growth and increasing consumption spending, especially in AI model training. Additionally, Google's recent positive results signal limited pricing pressu...