Quick Read

• Our $324 price target on AMZN implies 31% upside, supported by AWS growing at its fastest pace in 15 quarters.

• AWS backlog hit $364 billion while Trainium commitments topped $225 billion, excluding a separate $100 billion Anthropic deal.

• Free cash flow collapsed 95% as Q1 capex hit $44 billion, with 2026 spending tracking near $200 billion.

• Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn’t make the cut. Grab the names FREE today.

Our Amazon (NASDAQ:AMZN) call is straightforward: the stock has room to run into year-end. AMZN currently trades at $245.98, sitting 12% below its 52-week high despite AWS growth reaccelerating to…