Tech giants Alphabet (GOOGL) and Amazon (AMZN) are set to report their quarterly earnings next week, and investors are debating which stock looks more attractive. Both carry Strong Buy ratings from Wall Street ahead of the reports. However, analysts see more upside in Amazon, with potential gains of 22%, compared with about 3% for Alphabet.
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Using TipRanks’ Stock Comparison Tool, we compared Alphabet and Amazon to see which “Strong Buy” stock offers greater upside potential based on Wall Street’s latest outlook.
Let’s dig deeper.
What Analysts Expect from Alphabet’s Q4 Earnings
Wall Street expects Alphabet to report Q4 2025 earnings per share (EPS) of $2.64, reflecting 23% year-over-year growth. Revenue is estimated to rise 15% to $111.29 billion.
Investors will focus on advertising trends, especially whether search and YouTube ad demand stayed strong through the holiday quarter. Markets will also watch Google Cloud growth to see if momentum continues as competition intensifies. At the same time, attention will be on margins, as Alphabet continues to spend heavily on AI infrastructure, with management’s outlook expected to offer clues on revenue growth and spending priorities in 2026.
Wall Street’s Take on GOOGL
Overall, analysts remain bullish on Alphabet stock and are increasing price targets ahead of the earnings report. Recently, top Stifel analyst Mark Kelley reiterated a Buy rating on GOOGL and raised his price target to $346 from $333, citing positive signals from recent checks. He said those checks point to solid fourth-quarter advertising trends across Search and YouTube. The 5-star analyst also sees a reasonable chance that Alphabet’s Q4 Search and Cloud results will come in ahead of Street expectations. The stock remains one of Stifel’s top picks for 2026.
GOOGL stock carries 26 Buy and seven Hold ratings from analysts, with an average price target of $347.70.
See more GOOGL analyst ratings.
What to Expect from AMZN’s Q4 Earnings
For Amazon, Wall Street expects Q4 FY25 earnings of $1.96 per share, up from $1.86 a year ago. Also, revenue is expected to rise 13% year-over-year to around $211.41 billion.
Investors will focus on Amazon’s core retail business and AWS performance to see if demand stayed strong. Markets will watch AWS growth closely, especially as customers continue to spend on AI and cloud services. At the same time, investors will track margins, as higher logistics costs and heavy AI investment could pressure profits in the near term, making management’s outlook an important part of the report.
Wall Street’s Take on Amazon Stock
Similar to Alphabet, Wall Street analysts are increasing Amazon’s price targets ahead of earnings. Recently, Oppenheimer analyst Jason Helfstein raised his price target on Amazon to $315 from $305 and kept an Outperform rating on the stock. The firm lifted its AWS outlook after factoring in the impact of Anthropic and continues to see Amazon as a top large-cap pick. Oppenheimer now expects AWS revenue to grow 24% in FY26, above the Street’s 21% estimate.
The firm also said Amazon’s retail margins are starting to benefit from automation efforts. Oppenheimer sees about $7 billion in cost savings by FY27, which could lift overall operating profit by around 5%.
AMZN stock carries 46 Buys and one Hold rating from analysts, with an average price target of $295.30.
