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Investing.com - Evercore ISI has reiterated its Outperform rating and $335.00 price target on Amazon.com (NASDAQ:AMZN) following the annual AWS re:Invent conference. This target represents significant upside potential from Amazon’s current price of $229.11, with the e-commerce and cloud giant currently valued at $2.45 trillion.
The research firm cited evidence that the "AWS Unlock is sustainable" and that the inflection to 20% year-over-year revenue growth in the third quarter "was not a fluke." Evercore’s latest channel checks indicate that 20%+ AWS growth is "the most probable outlook for 2026."
Evercore noted that supply constraints that previously hindered AWS growth "have been largely addressed," allowing Amazon’s cloud division to capitalize on increasing demand.
The firm also highlighted that innovation at AWS is accelerating, specifically mentioning that Trainium-3, Amazon’s AI training chip, is now generally available (GA).
Overall cloud industry demand is "ramping rapidly," according to Evercore, providing a favorable environment for AWS to maintain its growth trajectory.
In other recent news, Amazon announced a significant development at the AWS re:Invent conference with the introduction of new Amazon EC2 M9g instances powered by the fifth-generation Graviton5 chip. These instances reportedly offer up to a 25% performance boost compared to previous generations, enhancing workload scalability and application performance. Additionally, Amazon has agreed to pay €180 million to settle a tax dispute with Italian authorities, as part of a broader investigation into tax fraud and labor practices.
Zilliz, the creator of the Milvus vector database, has selected AWS as its strategic cloud provider, leveraging its infrastructure across multiple regions for improved customer access. KeyBanc has reiterated its Overweight rating on Amazon, maintaining a price target of $303, citing encouragement from Amazon’s flexible AI offerings. Similarly, Goldman Sachs has maintained its Buy rating with a $290 price target, emphasizing Amazon’s advancements in artificial intelligence and machine learning. These developments reflect Amazon’s ongoing efforts to strengthen its position in the cloud industry.
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