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Amazon Price Target Hiked to $350 Amid AI-Fueled Growth

Guavy AI Editorial Team
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AMZN
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Truist Securities has increased its price target on Amazon.com Inc. to $350 from $320, while maintaining a Buy rating.

The firm cited Amazon's second-quarter 2026 results, which showed accelerating revenue growth across various segments including Amazon Web Services (AWS), Stores, and Ads.

Amazon raised its fiscal 2026 capital expenditure guidance to $220 billion from $200 billion to accelerate the build out of AI capacity, with a backlog of $496 billion, up 154% year-over-year.

Truist noted that investments are becoming increasingly de-risked despite the negative near-term free cash flow impact, with management continuing to earn the right to invest given significant demand.

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