Despite Amazon (NASDAQ: AMZN) stock finding itself in a steady decline since early August, Wall Street analysts have, for the most part, retained their optimism for the technology and e-commerce giant.

Early on Wednesday, September 30, Scott Devitt from Rosenblatt Securities joined the bullish chorus by issuing a ‘Buy’ recommendation for AMZN shares and increasing his 12-month price target from $335 – 35.81% above the latest $246.67 close – to $360, for a 45.94% predicted upside.

According to the note, the Wall Street expert completely rejects the notion that the use of agentic artificial intelligence (AI) will disrupt Amazon’s advertising model and general dominance. 

Simultaneously, Devitt expressed his…