Shares of Amazon (AMZN +4.55%) rallied on Monday, adding as much as 5.6%. As of 11:52 a.m. ET, the stock was still up 4.6%.
The catalyst that sent the e-commerce and cloud computing specialist higher was a vote of confidence from Wall Street after last week’s slump.
Image source: The Motley Fool.
You gotta spend money to make money
Phillip Securities analyst Helena Wang upgraded Amazon stock to buy from accumulate (a step above hold), while raising her price target to $330 per share, up from $320. The analyst points to the company’s “strong demand visibility” for its cloud services and its growing suite of artificial intelligence (AI) offerings.
Amazon stock dove last week when the company reported its Q3 results and reiterated its plans to increase its capital expenditures (capex) to $220 billion for 2026. Perhaps as importantly, CEO Andy Jassy said Amazon expects to spend “meaningfully more in 2027,” to capitalize on the opportunity represented by AI. That pronouncement,…
https://www.fool.com/investing/2026/11/02/why-amazon-stock-rallied-monday-morning/
