Amazon (AMZN) Prime Day Expansion Boosts Outlook, Says Jefferies

Amazon.com, Inc. (NASDAQ:AMZN) ranks among the best cloud stocks to buy according to Wall Street analysts. Jefferies kept its Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) while raising its price target for the e-commerce behemoth from $250 to $255 on July 1.

According to the firm’s analysis, Amazon.com, Inc. (NASDAQ:AMZN) customers remain resilient in the face of inflation worries, with 47% of respondents spending the same amount on the platform over the previous three months and 15% spending even more. Of those surveyed, 31% said they were spending less on Amazon, while only 3% said they had completely stopped.

The company’s July Prime Day event, which has been extended from the usual two-day format to four days (July 8–11), is expected to increase the number of Prime subscriptions, especially among students and young adults, thanks to prolonged free trial offerings.

Amazon.com, Inc. (NASDAQ:AMZN), is an American multinational technology company that offers a wide range of commercial interests that include digital streaming, online advertising, e-commerce, cloud computing through Amazon Web Services (AWS), and artificial intelligence.

While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.