Stocks
Amazon's Bull Case for $350 Price Target Gains Momentum
Amazon (NASDAQ: AMZN) is having a remarkable year, with shares up 15.43% year-to-date and 17.55% in the past month alone.
The company's cloud growth has hit its fastest pace in 18 quarters, while advertising revenue reached $19.81 billion, a 26% increase from last year.
AWS backlog stands at $496 billion, growing triple digits year-over-year, with 2027 capacity largely reserved already.
The consensus 1-year price target sits at $327, with 43 Buys, 16 Strong Buys, and just 3 Holds among covering analysts.
To reach $350 per share in 2027, Amazon would need to maintain its accelerating AWS growth, hold advertising's mid-20s growth, and let AWS margins do the heavy lifting.