Amazon.com, Inc. (NASDAQ:AMZN) is one of the AI Stocks Making Waves on Wall Street. On July 23, Bank of America reiterated the stock as “Buy” and raised its price target on the stock to $265 per share from $248.
Post raised his estimates for strong second-quarter retail data and Anthropic AI growth. He said his estimates for the quarter remain above the Street due to strong e-commerce data, longer Prime Day sales, and currency tailwinds. Looking into the second half of the year, Post anticipates strong AI demand and Amazon Web Services capacity growth as key factors driving the stock.
“Amazon’s YTD commentary on AWS capacity constraints, plus recent competitor Cloud revenue acceleration has likely elevated Street focus on AWS,” Post wrote in a Wednesday note to clients. “We think 2Q Retail is setting up for a solid quarter, plus a strong 1Q for AWS backlog and accelerating quarterly AWS capex spending should drive accelerating 2H AWS growth.”
Looking ahead, the analyst stated that he believes that this year’s longer Prime Day event and consumer resilience may lead to a strong third-quarter outlook. Tariff uncertainty remains a key risk, however.
Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.
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