Wall Street analysts lowered their price targets on Amazon’s (AMZN) stock after CEO Andy Jassy confirmed massive artificial intelligence (AI)-related investments in his Annual Shareholder letter released on April 10. Analysts are also factoring in the potential impact of new tariffs on Amazon’s offerings, since the e-commerce retailer sources a large portion of its goods from countries like China. Meanwhile, Amazon is set to release its first-quarter Fiscal 2025 earnings on April 24.
During its Q4FY24 earnings call, Jassy noted that Amazon plans to spend over $100 billion on AI and data center infrastructure in 2025, with a major focus on its cloud segment, Amazon Web Services (AWS).
