Stocks
Amazon Sheds $3T Market Cap, But Analysts See More Upside Ahead
Amazon's market capitalization briefly surpassed $3 trillion in early August, and while this milestone may signal a near-term ceiling for the stock, analysts believe there is still significant upside. The company's fundamentals are accelerating, with Q2 FY26 revenue reaching $200.61 billion, up 19.62% year over year.
AWS growth was particularly impressive, increasing 36.7% and achieving a $169 billion annualized run rate and a $496 billion backlog. CEO Andy Jassy stated that AWS could ultimately be a 'trillion dollar annual revenue business' over time.
The 24/7 Wall St. price target for Amazon is $342.78, implying 30.51% upside from the current $262.65. The recommendation is to buy, with a 90% confidence level.