TLDR
- Amazon stock hit a new all-time high of $258.79, up 41.4% over the past year
- The stock is trading near its InvestingPro Fair Value of $258.38
- BMO Capital raised its price target to $315, citing AWS growth acceleration in H1 2026
- Amazon invested an additional $5 billion in Anthropic, with $20 billion more planned
- Advertising revenue is getting a boost from the Winter Olympics, FIFA World Cup, and elections
Amazon stock reached $258.79 on Wednesday, setting a new all-time high. The stock has gained 41.4% over the past 12 months and carries a market cap of roughly $2.78 trillion.
InvestingPro data puts Amazon’s Fair Value at $258.38, placing the stock close to fairly valued at current levels. The platform gives Amazon a “GREAT” financial health score.
BMO Capital raised its price target on AMZN to $315 from $310 on Wednesday morning, keeping its Outperform rating. The firm also reaffirmed Amazon as a Top Pick.
BMO’s channel checks point to AWS growth picking up speed in the first half of 2026. That acceleration is being driven in part by demand from AI labs and recent supply chain improvements.
The firm did flag some caution around the retail side of the business. Macro uncertainty and geopolitical instability are casting a shadow over retail sales, though consumers are holding up in the near term.
AWS and AI Investment
Amazon’s expanded partnership with Anthropic is drawing attention from multiple analyst firms. Amazon has put in an additional $5 billion, with a further $20 billion planned. In return, Anthropic has committed to spending over $100 billion on AWS over the next decade.
UBS also raised its Amazon price target, moving to $304 while maintaining a Buy rating. The firm cited new AWS deals with both OpenAI and Anthropic as key drivers of expected revenue growth.
Roth/MKM reiterated a Buy rating with a $285 target. Cantor Fitzgerald raised its target to $280, pointing to strong AWS acceleration from AI lab demand and supply chain improvements.
Truist Securities also kept its Buy rating, with the Anthropic partnership highlighted as a key growth driver.
Beyond the Cloud
On the advertising front, BMO Capital slightly raised its segment estimates. The firm sees a cyclically strong 2026 ahead, with the Winter Olympics, FIFA World Cup, and election cycles all providing a lift.
Amazon also announced a partnership with Swedish company Einride to deploy 75 electric heavy-duty trucks across five U.S. locations. The trucks will be managed using Einride’s Saga AI software, which handles charging planning and vehicle operations.
Amazon launched a weight management program through Amazon One Medical this week, incorporating GLP-1 medications alongside primary care services. The news hit Hims & Hers Health stock negatively.
Amazon is scheduled to report earnings on April 29. Analysts on InvestingPro have flagged 12 ProTips for evaluating the stock ahead of that report. The stock currently trades at a P/E ratio of 35.48.
As of Wednesday, AMZN was trading at $255.36, near its new 52-week high of $258.79.
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