Analysts remain bullish on Amazon.com Inc. (NASDAQ:AMZN) ahead of this year’s Prime Day, with Bank of America saying the retail event could serve as both a sales catalyst and a major push to expand adoption of the company’s AI-powered shopping assistant, Alexa for Shopping.
Bank of America reiterated its Buy rating on Amazon and maintained a $310 price forecast, implying about 30.5% upside from the stock’s June 18 closing price of $237.50.
Prime Day Sales Outlook
The brokerage estimates Amazon’s four-day Prime Day event, scheduled for June 23-26, will generate approximately $21.6 billion in gross merchandise volume (GMV), up about 5% year over year. It expects first-party GMV to reach $11.6 billion and third-party GMV to total $10 billion.
AI Shopping Strategy
