2 Brilliant Growth Stocks That Just Hit All-Time Highs With Plenty of Room to Run

Amazon's leading cloud and e-commerce businesses have strong growth ahead.

The market has been rallying, with several popular stocks hitting all-time highs in recent weeks. While this doesn't mean these stocks will continue to go up in a straight line, let's look at two with continued strong long-term potential.

Amazon (NASDAQ: AMZN) recently hit an all-time high following its strong Q2 2026 earnings report, and the stock looks well-positioned to be a long-term winner. The company is the market share leader in both cloud computing and e-commerce, and both businesses are firing on all cylinders.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »

Amazon's most profitable business is cloud computing unit Amazon Web Services (AWS). Amazon created the entire cloud industry, and it remains the largest cloud provider today. Cloud computing is currently being driven by surging demand for artificial intelligence (AI) infrastructure, and AWS has seen its growth start to accelerate nicely. Last quarter, AWS revenue surged 37% to $42.2 billion.

Demand continues to outpace capacity, and Amazon is spending aggressively to expand. It has a $496 billion backlog backed by partnerships with leading frontier model companies Anthropic and OpenAI. CEO Andy Jassy, meanwhile, recently predicted that this could become a $1 trillion revenue business, while noting that the company breaks even on its chip and networking investments within two to three years. With five-year contracts and five-to-six-year lifespans for this equipment, Amazon is getting a strong return on its investment.

One of Amazon's advantages in its cloud business is its custom chips, including Trainium AI accelerators and Graviton central processing units (CPUs). This has recently become a $25 billion revenue-run-rate business, while it also uses these chips internally to help reduce build-out and inference costs. This is one of the reasons the company saw strong operating leverage last quarter, with AWS operating income soaring 63% to $16.6 billion.

In addition to its strong cloud computing business, Amazon's e-commerce business continues to perform well, with North American revenue up 16% and international revenue up 15%. Meanwhile, the company continues to see strong operating leverage, given the efficiency improvements it has seen from its investments in robotics, where it is the world's largest manufacturer and operator, and AI.