Amazon.com, Inc. (NASDAQ:AMZN) is likely one of the AI Stocks Making Waves on Wall Street. On July 23, Financial institution of America reiterated the inventory as “Purchase” and raised its value goal on the inventory to $265 per share from $248.
Put up raised his estimates for robust second-quarter retail information and Anthropic AI progress. He mentioned his estimates for the quarter stay above the Road due to robust e-commerce information, longer Prime Day gross sales, and forex tailwinds. Trying into the second half of the yr, Put up anticipates robust AI demand and Amazon Internet Companies capability progress as key components driving the inventory.
“Amazon’s YTD commentary on AWS capability constraints, plus latest competitor Cloud income acceleration has doubtless elevated Road deal with AWS,” Put up wrote in a Wednesday be aware to purchasers. “We predict 2Q Retail is establishing for a strong quarter, plus a robust 1Q for AWS backlog and accelerating quarterly AWS capex spending ought to drive accelerating 2H AWS progress.”
Trying forward, the analyst acknowledged that he believes that this yr’s longer Prime Day occasion and shopper resilience might lead to a robust third-quarter outlook. Tariff uncertainty stays a key threat, nevertheless.
Amazon.com Inc. (NASDAQ:AMZN) is an American expertise firm providing e-commerce, cloud computing, and different providers, together with digital streaming and synthetic intelligence options.
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Disclosure: None.
