Bank of America Securities Reiterates a Buy on Amazon.com (AMZN)

​Amazon.com, Inc. (NASDAQ:AMZN) is one of the Best Cloud Stocks to Buy Now. On November 21, Justin Post from the Bank of America Securities reiterated a Buy rating on the stock with a $303 price target. Earlier on November 19, Mark Shmulik from Bernstein had also reiterated a Buy rating on the stock with a $300 price target.

​The positive outlook on the stock follows the company’s recent partnership with HUMAIN, announced on November 19. Under this partnership, Amazon.com, Inc. (NASDAQ:AMZN) will work with HUMAIN, which is a Public Investment Fund company, to deploy and manage 150,000 AI accelerators in a data center facility called “AI Zone” in Riyadh, Saudi Arabia.

​The AI Zone would be a first-of-its-kind facility in Saudi Arabia, which will support NVIDIA’s latest GB300 AI infrastructure and Amazon.com, Inc.’s (NASDAQ:AMZN) Trainium AI chips. The release highlighted that the infrastructure at this facility will support a range of compute-intensive workloads, including model training and running inference of AI applications.

​In addition, HUMAIN will also join the company’s AWS Solution Provider Program, allowing customers to have access to AWS services. This collaboration builds upon the earlier announcement of a strategic collaboration between the two companies announced in May 2025, where the companies shared their joint investment plan of investing more than $5 billion in AI infrastructure in Saudi Arabia.

​​Amazon.com, Inc. (NASDAQ:AMZN) is a global retailer offering a wide range of products through online and physical stores, focusing on selection, price, and convenience.

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.

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Disclosure: None. This article is originally published at Insider Monkey.