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Amazon's Cloud Computing and Retail Success Are Key to 2Q

When (AMZN) reports second-quarter earnings Thursday after the markets close, all eyes will be on the e-commerce giant's retail and cloud computing businesses.

On average, analysts are expecting $29.56 billion of revenue and $1.11 of earnings per share. Amazon posted $23.18 billion in sales and 19 cents of EPS during the corresponding period a year ago.

"We believe Street estimates for the quarter are reasonable," wrote RBC Capital Markets analyst Mark...