Tech darling Amazon.com is set to report fourth quarter earnings Thursday after the close of the market. Wall Street is estimating that 2015 sales will top $100 billion dollars. Investors will be listening closely for insight into consumer spending.

Halftime Report traders are divided on jumping into Amazon.com ahead of earnings.

"I think Amazon is going to show a blowout quarter," said Joe Terranova. "Shares will return to $700 as soon as the environment for equities gets more stable," he added.

"Amazon packs quite a punch when they do deliver an upside quarter," noted Josh Brown. "When they beat, they beat big but I would not be a buyer here."

"I would expect this to be an incredible quarter for them," added Pete Najarian. "It's a combination of how well they've done in Prime and AWS but it's expensive at these levels."

Shares of Amazon.com are up more than 100% in the last year but have fallen 10% year-to-date. Investors are anxiously awaiting the results to determine if a price shift is in order.