Amazon set to join Big Tech's spending surge as AI race heats up

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Go back to Amazon set to join Big Tech's spending surge as AI race heats up

Susquehanna Reiterates Positive Rating on Amazon.com (AMZN)

August 2, 2024 6:02 AM EDT

Susquehanna analyst Shyam Patil reiterated a Positive rating and $220.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "2Q fine overall. Revenue of $148b grew 11% y/y ex-FX, decelerating two points vs. 1Q, and was 1% above our estimate but a touch below consensus. Online stores revenue grew 6% y/y ex-FX, 1% above our estimate but 1% below consensus. Paid units were up 11% y/... More

Amazon.com (AMZN) PT Lowered to $224 at Stifel

August 2, 2024 5:21 AM EDT

Stifel analyst Mark Kelly lowered the price target on Amazon.com (NASDAQ: AMZN) to $224.00 (from $228.00) while maintaining a Buy rating.

The analyst comments "AMZN put up a mixed 2Q and guided 3Q below the Street. AWS accelerated +145bps q/q to +19% y/y, and... More

Amazon.com (AMZN) PT Lowered to $230 at JPMorgan

August 2, 2024 5:19 AM EDT

JPMorgan analyst Doug Anmuth lowered the price target on Amazon.com (NASDAQ: AMZN) to $230.00 (from $240.00) while maintaining a Overweight rating.

The analyst comments "Sometimes Retail leads AMZNs business and other times its AWS. On occasion both sides of the business are firing on all cylinders, like in 2018, driving substantial share appreciation. During 2023, Retail growth accelerated & Retail margins expanded sharply on network rationalization & regionalization, while AWS worked through challenging cloud optimizations. Now the N-T drivers shift to cloud as AWS delivered its second straight... More

Amazon.com (AMZN) PT Raised to $215 at Roth/MKM

August 2, 2024 5:12 AM EDT

Roth/MKM analyst Rohit Kulkarni raised the price target on Amazon.com (NASDAQ: AMZN) to $215.00 (from $210.00) while maintaining a Buy rating.

The analyst comments "AMZN reported inline-ish 2Q vs. Street, however, below elevated expectations. 3Q revenue guide feels soft while 3Q margins... More

Citi Reiterates Buy Rating on Amazon.com (AMZN)

August 2, 2024 5:10 AM EDT

Citi analyst Ronald Josey reiterated a Buy rating and $245.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "With AWS revenue growth accelerating, faster shipping times improving conversion rates (as essentials gain share), and overall cost-to-serve declines, we believe Amazon delivered... More