$350 Amazon Stock Target by 2027 Hinges on AWS Growth and AI
The $350 Amazon stock price prediction for 2027 is gaining traction among analysts. TD Cowen, KeyBanc, and Truist Securities have all set their targets at this level, which represents a 43% increase from the current share price of $245.46. This forecast is driven by AWS growth, a $496 billion backlog, and fully booked AI chips.
Amazon's second-quarter revenue and operating income exceeded estimates, leading TD Cowen to raise its target to $350 from $340. KeyBanc and Truist followed suit with their own $350 calls. The company's CEO, Andy Jassy, cited AWS growth of 36.7% in the second quarter as a key driver of this performance.
Jassy also highlighted Amazon's significant backlog, which stands at $496 billion and is growing triple digits year-over-year. Additionally, AI chip and cloud businesses have each crossed a $25 billion yearly run rate. These factors suggest that AWS growth will continue to propel the company forward in 2027.