Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Amazon’s stock is gaining momentum as Morgan Stanley’s top analyst, Brian Nowak, has raised the price target for Amazon (AMZN) by 20%, setting it at $300, which suggests a potential 35% increase from current levels. Nowak attributes this optimistic outlook to an improving macroeconomic environment and a more manageable tariff situation. He is particularly bullish on Amazon Web Services (AWS), which is expected to grow due to its rapid adoption and strategic partnerships, such as with AI startup Anthropic. AWS is also seen as well-positioned to compete against rivals like Microsoft’s Azure, thanks to increasing demand for AI-driven cloud services.
Moreover, Amazon’s strategic moves in the AI space, including its partnership with Anthropic, are expected to enhance its market position. This partnership allows AWS customers access to Anthropic’s advanced AI models, which are gaining traction as competitors to OpenAI’s offerings. With these developments, Morgan Stanley has named Amazon its ‘Top Pick’ in the sector, with a bullish scenario price target of $350, indicating a 57% upside potential. The stock currently holds a Strong Buy consensus rating, with significant growth anticipated in the coming years.