Amazon.com Inc. (NASDAQ:AMZN) stock fell nearly 2% Thursday as the stock lagged both the broader market and its sector despite bullish analyst views on Amazon Web Services and AI-driven cloud demand.
• Amazon.com shares are experiencing downward pressure. Why is AMZN stock retreating?
Rosenblatt Sees AWS Growth Outpacing Expectations
Rosenblatt analyst Scott Devitt initiated coverage of Amazon with a Buy rating and a $335 price target, arguing that investors undervalue the company’s AI opportunity.
Devitt expects AWS growth to reach 45% by the end of 2026, above the Street’s 38% estimate. He also projects AWS annual revenue will exceed $335 billion by 2028.
