This is an analysis of Amazon, AMZN, including a discussion of recent financial results and future capital expenditures. It presents a fundamental analysis with a target based on the calculation of the company's intrinsic value per share, which the presenter establishes at $304.04. The current market price, at the time of the analysis, stands at $249.25. The increase in capital expenditures for 2025 is set at $125 billion and is seen as a positive sign because Amazon already has customers to purchase it. The company’s annualized revenue run rate is $132 billion. As revenue increases, and efficiencies are realized margins should increase. Return on invested capital improved from 6% in 2016, to 12.8% in the most recent trailing twelve month period. There is a discussion on their excellent capital allocation plans.