Amazon enters the back half of 2026 with fresh momentum behind its Prime ecosystem, as recent programming and delivery announcements reinforce the loyalty engine underpinning the stock's retail narrative. On Aug. 13, 2026, Prime Video unveiled its full 2026-27 NBA on Prime schedule, its second season under the 11-year media rights agreement, featuring five weeks of Emirates NBA Cup doubleheaders, a Black Friday game, the SoFi Play-In Tournament in April 2027, and — for the first time — an exclusive presentation of the Eastern Conference Finals. This expands on a slate that already includes WNBA coverage and a growing pipeline of Amazon MGM Studios originals extending into 2027, giving subscribers fresh reasons to renew. The strategy is already translating into subscriber traction: in its second-quarter 2026 earnings report, released July 30, Amazon disclosed double-digit year-over-year growth in Prime membership, alongside a more than 40% increase in items delivered same-day or overnight to Prime members in the first half of the year. Paid unit growth of 17% year over year further points to deepening customer engagement, while advertising revenues climbed 26% to $19.8 billion, and Alexa+ expanded to four additional countries with users spending 40% more per order. These trends helped drive overall net sales of $200.6 billion in the quarter, up 20% year over year excluding currency effects, with North America revenues rising 16% to $116.2 billion. For the third quarter, Amazon has guided to net sales between $197 billion and $202 billion. Amazon shares have returned 15.4% year-to-date, compared with the Zacks Internet – Commerce industry and the Zacks Retail-Wholesale sector's growth of 7.7% and 2.7%, respectively. From a valuation standpoint, AMZN stock appears overvalued, trading at a forward 12-month price/earnings ratio of 23.35X, higher than the industry's 22.13X, and it has a Value Score of D. The Zacks Consensus Estimate for AMZN's 2026 earnings is pegged at $13.06 per share, indicating an 82.15% increase from the year-ago quarter. Amazon currently carries a Zacks Rank #2 (Buy).
Amazon.com IncPrime membership growth and increased engagement drive retail and advertising revenue.
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