"Amazon (NASDAQ:AMZN) sits in Citadel's top five because AWS is printing money. The company posted $180.17 billion in Q3 2025 revenue with $21.19 billion in net income. Operating margin hit 11.1%, up from single digits two years ago. Amazon beat estimates in four consecutive quarters through Q3 2025, with surprises ranging from 16.9% to 26.6%. Q3 2025 EPS of $1.95 crushed the $1.54 estimate by 26.6%."
"Q3 2025 EPS of $1.95 crushed the $1.54 estimate by 26.6%. EPS nearly doubled from $0.97 in Q3 2024 to $1.95 in Q3 2025, a 107% jump. That's margin expansion from AWS, not just revenue growth. The stock trades at 34x trailing earnings with a forward P/E of 30x. For a company growing earnings 36.4% year-over-year, that's reasonable. Griffin likely sees AWS continuing to take cloud share while e-commerce margins improve."
Citadel's largest long equity positions focus on liquid, high-quality mega-cap companies that can absorb significant capital while offering underpriced upside. Amazon's AWS is the primary profit engine, with Q3 2025 revenue of $180.17 billion, net income of $21.19 billion, and operating margin of 11.1%. Amazon beat estimates across four consecutive quarters and posted Q3 2025 EPS of $1.95, a 107% year-over-year increase from Q3 2024. The stock trades around 34x trailing and 30x forward P/E while earnings grow rapidly. Apple shows strong margins and operational leverage, with $416.2 billion trailing revenue, 26.9% profit margin, frequent earnings beats, and substantial recent earnings growth, trading near 34x trailing earnings and implying modest analyst upside.
Read at 24/7 Wall St.
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