Amazon Stock Maintains Strong Buy Consensus Amid AWS Expansion Plans

Citizens has maintained its Market Outperform rating on Amazon stock, with a price target of $315. This aligns with the broader optimism on Wall Street, as analysts maintain a strong buy consensus on the company.

The firm points to Amazon Web Services' (AWS) commitment to 2 million additional GPUs across 2027-2028, building on the over 1 million units previously announced. AWS is also planning to deploy Vera CPUs as part of its infrastructure expansion.

Citizens notes that this demonstrates continued market demand for NVIDIA hardware, despite AWS's progress with custom silicon development. The analyst firm points to the positive earnings revisions from 22 analysts, reflecting confidence in Amazon's cloud infrastructure investments.