Amazon.com (NASDAQ: AMZN) is testing resistance near its 52-week high of $278.56 Monday morning, with shares up in premarket as Wall Street digests a blowout second-quarter earnings report and a bold long-term call from BNP Paribas. Q2 highlights: Worldwide net sales came in at $201 billion, ahead of the $197 billion consensus. AWS operating income hit $27.5 billion versus a $23.6 billion estimate. Adjusted EBITDA was $53.5 billion versus the $50.8 billion estimate. AWS backlog stood at $496 billion up more than 150% year over year and 36% quarter over quarter. Q3 guidance: Net sales of $197 billion to $202 billion; operating income of $22.5 billion to $26.5 billion. A BNP Paribas analyst reiterated a bullish stance and outlined a path for AWS to become a $1 trillion business over time, citing accelerating demand tied to AI workloads as the key driver. Technically, the stock is extended about 13.9% above its 20-day SMA ($243.86) and 18.1% above its 200-day SMA ($235.01). MACD is above ...