Amazon (NASDAQ: AMZN) remains a top pick for Goldman Sachs as the investment bank reaffirmed its Buy rating with a $290 price target following the company’s annual AWS re:Invent conference on December 5.
AMZN stock traded around $229.11 on Thursday, down 1.41% on the day and 8.43% percent over the past month.
In a research note shared with clients, Goldman Sachs analyst Eric Sheridan said the key announcements at re:Invent reinforced Amazon’s positioning in artificial intelligence, machine learning and custom cloud silicon. He argued that AWS’s latest product roadmap provides greater clarity around how the company intends to capture enterprise-scale AI demand.
“Combined with Amazon’s recent earnings report, we view the key takeaways from re:Invent and management’s forward narrative as another positive step in improving investor sentiment around AWS’s artificial intelligence thematic positioning,” Sheridan…
