Tech giants Alphabet (GOOGL) and Amazon (AMZN) are both set to report their quarterly results on April 29, with the market closely watching these high-stakes updates. As investors debate which “Magnificent Seven” stock looks more attractive, both carry Strong Buy ratings from Wall Street ahead of the reports. That said, analysts see slightly more upside in Alphabet, with a price target of $387.68 implying about 14% upside, compared with around 12% for Amazon, which has a target of $286.74.
Claim 55% Off TipRanks
New trading tool for AMZN bullsUsing TipRanks’ Stock Comparison tool, we stacked GOOGL against AMZN across multiple metrics—including analyst sentiment, upside potential, valuation, and earnings momentum—to help investors see which stock looks more attractive ahead of earnings.
What Analysts Expect from Alphabet’s Q1 Earnings
Wall Street expects Alphabet to report Q1 2026 earnings per share (EPS) of $2.63, reflecting 6% year-over-year decline. Revenue is estimated to rise 19% to $106.88 billion.
Investors will focus on advertising trends, especially on whether Search and YouTube have maintained their momentum after the rollout of new AI tools. They will also watch Google Cloud growth to see if it can sustain its pace as Gemini adoption increases. At the same time, margins will remain in focus, as heavy AI spending could weigh on near-term profits. Management’s outlook will be key to understanding how these investments are driving growth.
Wall Street’s Take on GOOGL
Overall, analysts remain bullish on Alphabet stock ahead of the earnings report. Recently, top BofA analyst Justin Post reiterated a Buy rating and a $370 price target on Alphabet, calling it a “top pick.” He expects a slight beat in Q1, with revenue and earnings coming in above Street estimates, helped by strength in Search and Cloud. Post sees Gemini driving better search usage and monetization, while cloud growth could pick up further. He also expects margins to improve on AI-led efficiency gains.
However, he flagged risks around higher AI spending, possible ad growth slowdown, and rising competition.
Likewise, BMO Capital analyst Brian Pitz raised his target to $410 from $400 and maintained an Outperform rating. The 5-star analyst views Alphabet as one of the best ways to play AI, citing strong integration of AI features into Search and steady growth in web traffic. Pitz also lifted his cloud forecasts, expecting robust demand to drive solid growth, even as supply limits remain a constraint.
GOOGL stock carries 26 Buy and five Hold ratings from analysts, with an average price target of $387.68.
What to Expect from AMZN’s Q1 Earnings
For Amazon, Wall Street expects Q1 FY26 earnings of $1.63 per share, up from $1.59 a year ago. Also, revenue is expected to rise 14% year-over-year to around $177.22 billion.
Investors will keep a close eye on AWS (Amazon Web Services), especially on whether growth has picked up as more companies move their AI workloads to the platform. They will also track the advertising business, which has become a key profit driver. Similar to Alphabet, the main concern remains capital spending, with Amazon expected to invest heavily in data centers. Analysts will look for clear signs that these investments are improving cloud growth and efficiency.
Wall Street’s Take on Amazon Stock
Similar to Alphabet, Wall Street analysts remain upbeat about Amazon’s growth ahead of earnings. Recently, Rohit Kulkarni of Roth MKM reiterated a Buy rating and a $285 price target on Amazon, pointing to strong momentum in AWS and growing AI exposure. However, after a sharp recent rally, he noted that expectations are now higher, making the near-term risk-reward more balanced. Kulkarni added that the stock’s reaction will likely depend more on AWS growth and forward guidance, rather than the Q1 numbers.
Also, Cantor Fitzgerald analyst Deepak Mathivanan raised his price target to $280 from $260 and maintained an Overweight rating on the stock. He expects strong AWS growth in Q1, driven by rising demand from AI firms and improved supply. Mathivanan also said the backlog is growing due to stronger deals with OpenAI and Anthropic, while the retail business is expected to remain steady with some margin improvement.
However, he cautioned that near-term profits could face pressure from higher costs, even as the long-term outlook remains solid.
AMZN stock carries 42 Buys and three Hold ratings from analysts, with an average price target of $286.74.
