AM is an acronym for Artium Magister, or master of arts, the second degree given by universities and colleges.

A.M. also is an acronym for Anno Mundi, or in the year of the world, which was previous to AD.

It is also an acroym for Ante Meridiem, or before noon

Or, Amplitude Modulation as is 790 AM KNST Tucson, Arizona.

Or, Airmail.