TradingKey – Amazon’s stellar earnings report fueled a surge in its stock price, and JPMorgan believes that factors such as gross margin expansion and AI monetization will drive its stock price further upward.

On July 31, Eastern Time, Amazon ( AMZN )’s latest earnings report was exceptionally strong, driving its stock price up 13% in pre-market trading to break past $260, recovering losses from the past two months and nearing its all-time high of $278 set on May 5 this year, which is now only 7% away. The surge in Amazon’s stock price was primarily because its earnings results dispelled previous market concerns, specifically regarding AWS cloud revenue and profit, as well as the commercialization of its AI business.

Amazon stock price…