Billionaire Investors Back Amazon Amid Satellite Push and Earnings Test

As Amazon's satellite launch pace accelerates, top investors like Druckenmiller boost stakes ahead of a critical Q1 earnings report that will test AWS growth and valuation.

As Amazon’s share price faced pressure in the final quarter of 2025, three prominent billionaire investors made significant additions to their holdings. This notable accumulation of equity coincides with accelerated deployment for the company’s satellite internet constellation and precedes a critical quarterly earnings report, creating a convergence of pivotal developments.

Satellite Deployment Accelerates Toward Service Launch

The operational tempo for Amazon’s satellite venture, now branded Amazon Leo, has increased substantially. On April 4, an Atlas V rocket successfully delivered 29 satellites to orbit, marking the largest single batch launched for the program to date and bringing the total number of deployed satellites to 241.

The launch schedule remains intense. Two more missions are imminent: another Atlas V is scheduled to lift 29 satellites from Cape Canaveral on April 27, followed by an Ariane 64 rocket launching 32 satellites just one day later. Chris Weber, Vice President for Amazon Leo, stated at the SAT Show 2026 in Washington that the commercial service is now merely "months away."

Regulatory deadlines add pressure. In January, Amazon petitioned the FCC for an extension to meet a requirement to launch approximately 1,600 satellites by July 2026. The company’s ultimate plan involves a constellation of roughly 7,700 satellites. A potential acquisition could further complicate the landscape; according to a Financial Times report, Amazon is in discussions to purchase Globalstar, though negotiations are complicated by Apple’s 20% stake in the satellite operator, acquired through a $1.5 billion investment in 2024.

High-Profile Investors Increase Stakes

Detailed SEC filings for Q4 2025 reveal that 111 major institutional investors established or increased their positions in Amazon. Among the most notable were Bill Ackman, Seth Klarman, and Stanley Druckenmiller. Ackman’s Pershing Square held shares worth $2.2 billion at year-end. Druckenmiller acted even more decisively, purchasing around 300,000 additional shares—a 69% increase in his position.

One factor likely influencing these moves is valuation. The stock currently trades at 29 times earnings, a figure notably below its historical median of approximately 81 over the past decade.

Core Business Strength and Forthcoming Earnings Catalyst

Amazon’s underlying business performance remains robust. For the full 2025 fiscal year, the company reported net sales of $716.9 billion, a 12% year-over-year increase. Net income jumped 31% to $77.7 billion. The Amazon Web Services (AWS) segment contributed $128.7 billion in revenue, maintaining operating margins consistently above 30%.

All eyes now turn to the upcoming first-quarter 2026 results, scheduled for release on April 29. The growth rate of AWS will be a key benchmark for investors. Sustained growth at or above 20% would support current valuation models, while a figure below that threshold could fundamentally challenge the assumptions underpinning many share price targets.