As Amazon.com, Inc. (NASDAQ: Amzn) The stock signaled the end of the June correction In early July, John Blackledge, a Wall Street analyst from TD Coin, maintained a bullish outlook for the next 12 months.
Blackledge reiterated a Buy rating for Amazon stock Over the next 12 months, according to a memo Feinbold sent to agents on July 9. He also lowered his 12-month price target for AMZN shares from $350 to $340, suggesting a potential upside of 40.6%.
The analyst cited bullish sentiment on Amazon shares, following a similar move from Goldman Sachs Group Inc. analyst Eric Scherida. (NYSE:A). Earlier this week, Sherrida reiterated a buy rating on AMZN shares and raised his 12-month price target to $335 from $325.
Meanwhile, Needham analyst Laura Martin maintained a buy rating on Amazon shares, as Finbold I mentioned. As such, 45 Wall Street analysts Surveyed by TipRanks I set a 12-month price target of $319.26, which represents a potential upside of 32%.
Why is Wall Street bullish on Amazon stock?
Wall Street’s bullish stance on Amazon stock is being reinforced by AWS’s reacceleration and expansion of its AI infrastructure with major companies including Anthropic and OpenAI. Furthermore, AWS grew 28% to $37.587 billion in the first quarter of 2026, the fastest growth in 15 quarters, according to company earnings. a report.
Meanwhile, Wall Street analysts are bullish on AMZN stock following year-to-date momentum. From a technical analysis standpoint, Amazon shares have formed a higher high and possibly a higher low over the past two weeks, which is a feature of an uptrend.
As such, if AMZN stock rises above the 2026 resistance level of around $275, analyst price expectations could be met. However, if investors in the AI industry calm down amid the clear risks that the bubble will collapse, as Feinbold has done, maleIt may invalidate analysts’ expectations.
