Amazon Plans to Spend More on AI. Here’s Why the Stock is a Once-in-a-Decade Buy Hiding in Plain Sight.

Amazon reported Q3 earnings that missed estimates and announced plans to increase AI spending beyond its $220 billion annual capital expenditure forecast. Despite negative free cash flow of $42 billion in the trailing 12 months, CEO Andy Jassy expressed confidence in achieving attractive financial returns, predicting AWS could become a trillion-dollar revenue business within 5-10 years. The article argues Amazon stock, down 14% from August highs and trading at 30x forward earnings, represents a compelling long-term buying opportunity despite near-term cash flow pressures.