Amazon.com Inc.'s shares increased by 0.65% over five trading sessions and 9.11% over the past month, with a year-to-date gain of 3.29%. Jeff Bezos sold nearly 3 million shares as part of a planned unload of up to 25 million shares. Analysts upgraded price targets significantly, with several targeting between $250 and $270. Despite some business segments lagging, AWS is forecast to propel Amazon's operating income beyond $100 billion in the next two years. The company is launching an AI model named Nova to compete against established AI models.
Amazon.com Inc. shares gained 0.65% over the past five trading sessions and 9.11% over the past month, while the year-to-date gain stands at 3.29%.
Analysts raised price targets for Amazon, with Capital at $270, Citi and Needham at $265, Piper Sandler at $250, Cantor Fitzgerald at $260, and Truist at $250.
Amazon plans to launch a proprietary AI model named Nova, scheduled for June, designed to provide advanced reasoning capabilities and compete with prominent players like OpenAI.
Emerging business segments and the potential of AWS contribute to optimism for Amazon exceeding $100 billion in operating income within the next two years.
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