Wall Street will eye Amazon earnings Thursday for hints of which investment will yield Amazon's next gold mine, analysts told CNBC.
"If there's some golden goose that proves the investment strategy is worthwhile — whether that's content, fulfillment, Prime membership, better same-day delivery capabilities — any of those will be borne out as positives for Amazon," said Daniel Kurnos, internet, media and communications analyst at the Benchmark Co.
Amazon is slated to report first-quarter earnings Thursday afternoon. Analysts expect earnings of 58 cents per share on revenues of $27.98 billion, according to Thomson Reuters consensus estimates.
In advance of the report, Amazon's share price was up 2.7 percent Thursday morning. Shares of Amazon are up nearly 40 percent over the past year.