Amazon Eyes $320 as AWS Growth Fuels Bullish Outlook

Quick Read

• Amazon (AMZN) reported Q1 EPS of $2.78, crushing the $1.73 estimate, with revenue at $181.5B (up 16.61%), AWS reaccelerating to 28% growth (its fastest pace in 15 quarters), and custom chips reaching a $20B run rate with triple-digit growth.

• 24/7 Wall St. has a 12-month price target of $320.08 (20.76% upside) with a buy rating at 90% confidence.

• AWS capacity commitments from OpenAI (2 GW), Anthropic (5 GW), and over 1 million NVIDIA GPUs in 2026 provide multi-year demand visibility, but capital intensity remains a risk with Q1 capex up 77% to $44.2B and full-year 2026 capex guided near $200B.

• The analyst who called NVIDIA in 2010 just named his top 10 stocks and Amazon wasn’t one of them. Get them here FREE.

Amazon delivered a clean earnings report, and our model leans into the strength. Amazon (NASDAQ:AMZN) trades at $265.06 after rising 27.27% over the past month, but our proprietary work suggests the rally has room.

Our 24/7 Wall St. price target is $320.08 over the next 12…