"Citi raised its price target to $285 from $265, maintaining a Buy rating, while JPMorgan raised its target to $280 from $265, keeping an Overweight rating and naming Amazon its best idea."
"Citi upped its AWS estimates after analyzing revenue contributions from Anthropic, OpenAI, and core workloads, projecting AWS revenue growth of 28% year-over-year in Q1 and 29% for full-year 2026."
"JPMorgan projects AWS growth of 29% in Q1, 30% in Q2, 29% in Q3, and 28% in Q4 2026, driven by traditional workloads shifting to cloud and greater AI adoption."
"Amazon's custom chip business (Trainium and Graviton) carries a combined annual revenue run rate above $10 billion with triple-digit percentage growth year-over-year."
Amazon's stock has decreased over 6% this year but has seen a recent uptick. Analysts predict a target price of $280.47, with Citi and JPMorgan raising their targets to $285 and $280, respectively. Both firms emphasize the accelerating demand for AWS AI services. Citi forecasts AWS revenue growth of 28% year-over-year in Q1 2026, with further acceleration expected. JPMorgan anticipates consistent growth driven by cloud adoption and AI. Amazon's custom chip business is also contributing significantly to revenue growth.
Read at 24/7 Wall St.
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