Amazon Stock Price Stuck Below $300, JP Morgan Sees Room for Double-Digit Gains

Amazon's stock price has been struggling to break above $300, and traders are taking notice. The e-commerce giant's price nears the $290 level only to plummet back down to the $270 zone. This seesaw movement is causing uncertainty among investors.

JP Morgan analyst Douglas Anmuth maintains a buy rating on Amazon stock and suggests taking an entry position in the equity. He highlights Amazon Web Services (AWS) revenue as a key growth driver, which has reached a record $169 billion annualized run rate with 37% year-over-year growth in the second quarter of 2026.

Anmuth predicts that Amazon's stock price will reach a target of $365, representing a potential profit of $93 per share from its current price. This would translate to a return on investment (ROI) of approximately 34%, or double-digit gains for investors who take an entry position at the current price.