Amazon Stock Surges on Evercore Upgrade, AWS GPU Plans
Amazon's stock price surged approximately 4% on Friday after Evercore ISI analyst Mark Mahaney raised his price target to $355 from $315, maintaining a Buy recommendation. This increase was supported by impressive survey results showing Amazon commands 92% penetration among U.S. online shoppers.
The company's e-commerce operations are also benefiting from emerging agentic AI capabilities, which are generating tangible sales impact. According to the survey data, 57% of Alexa AI adopters purchased products they hadn't previously searched for, indicating AI-driven discovery is creating incremental demand beyond simple search redirection.
AWS continues its aggressive expansion with plans to acquire 2 million premium Nvidia GPUs between 2027 and 2028, signaling robust cloud infrastructure investment. This substantial GPU procurement is interpreted as clear evidence that artificial intelligence workload demand on AWS remains strong, with Amazon demonstrating commitment through significant capital allocation.