If you are referencing the MQD waiver for $25K in spend on a branded Amex card, the answer is yes. Amex has no way to distinguish whether or not you are buying a gift card, since retailers don't attach any special designation to gift card purchase transactions. If you want to be discreet, you can buy a gift card for an odd amount (say, $101.28) or add a stick of gum to your purchase (say, buy a $500 gift card, and with the gum, the transaction totals $501.06).

There are lots of tips regarding gift card purchases on credit cards in the manufactured spending forum; I suggest you check it out for some extra ideas if you're wanting to play the game this way.