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 is currently in the spotlight as top Goldman Sachs analyst Eric Sheridan has raised his price target for the company to $275, maintaining a strong Buy rating. Sheridan highlights Amazon’s leadership in e-commerce, digital advertising, and cloud computing, with a particular focus on the potential growth of Amazon Web Services (AWS) and the advertising segment. He anticipates AWS to achieve over 20% top-line growth and maintain robust EBIT margins by 2025-2026. Additionally, Amazon’s advertising business is expected to expand at a 16% compound annual growth rate from 2024 to 2028, further boosting the company’s revenue.
In other news, Amazon is undergoing internal changes as Rob Williams, Vice President of Device Software and Services, plans to retire at the end of the year. His departure is significant as he was part of Amazon’s exclusive S-team. Meanwhile, Amazon founder Jeff Bezos has commented on the current AI market, describing it as an ‘industrial bubble’ similar to past tech bubbles. Despite this, Bezos believes AI will have a lasting impact across industries. Wall Street analysts continue to show strong confidence in Amazon, with a consensus Buy rating and a price target suggesting a nearly 20% upside potential.