AMZN
New analyst, same old Amazon doubts?
Rosenblatt just joined the Amazon cheer squad, initiating coverage with a Buy rating and a $335 price target. That’s about 26% upside from the stock’s roughly $262.50 level, which is analyst-speak for: hey, maybe the market is still sleeping on this one.
The whole thesis is basically AWS, AWS, AWS
The bull case here isn’t some mystery moonshot. It’s Amazon Web Services, plus the idea that AI spending creates a neat little flywheel:
- customers buy more AI tools
- those tools chew through more cloud infrastructure
- AWS sells more core services on top of that
Rosenblatt’s Scott Devitt thinks AWS could finish 2026 growing 45%, ahead of the Street’s 38% estimate, and eventually top $335 billion in annual revenue by 2028. That’s a pretty spicy forecast for a business that already grew 37% year over year in Q2.
Why the stock still slipped
Even with the bullish call, AMZN was down about 1.24% Thursday. So yes, the market sometimes acts like the kid who ignores the dessert and complains about the vegetables. But the bigger picture is still constructive: Amazon’s mix of cloud infrastructure and fulfillment muscle is hard to copy, and that keeps the long-term story intact.
The chart crowd still has a reason to squint upward
Technically, Amazon is still above its 50-day and 200-day moving averages, which is trader jargon for “the trend hasn’t broken yet.” The stock is also sitting near the middle of its recent range, not screaming overbought, not flashing panic.
Big picture: Rosenblatt’s call is another reminder that Amazon’s AI narrative is getting louder, even if the stock is taking the scenic route to higher prices.