Amazon shares jump 15.2% as more than 10 investment banks raise price targets
Amazon shares rose 15.2% to $271.255, marking the stock’s biggest percentage gain since 2012. The company’s total market capitalization stood at $2.92 trillion. Amazon reported results for the second quarter of 2026, with both overall performance and earnings surpassing expectations. Revenue growth at Amazon Web Services reached its highest level in 18 quarters. The company raised its capital-expenditure guidance for full-year 2026 and gave an optimistic assessment of the long-term, trillion-dollar revenue opportunity in artificial intelligence. Amazon said the trend of insufficient AI computing capacity is expected to continue, with the supply shortfall potentially lasting through 2028. More than 10 investment banks raised their price targets for Amazon. Citi raised its target from $325 to $350, while BofA Global Research increased its target from $310 to $320.
Amazon reported results for the second quarter of 2026, with both overall performance and earnings surpassing expectations. Revenue growth at Amazon Web Services reached its highest level in 18 quarters.
The company raised its capital-expenditure guidance for full-year 2026 and gave an optimistic assessment of the long-term, trillion-dollar revenue opportunity in artificial intelligence. Amazon said the trend of insufficient AI computing capacity is expected to continue, with the supply shortfall potentially lasting through 2028.
More than 10 investment banks raised their price targets for Amazon. Citi raised its target from $325 to $350, while BofA Global Research increased its target from $310 to $320.