Amazon's (AMZN) AWS Momentum Strengthens as Evercore Keeps $335 Price Target

Amazon.com, Inc. (NASDAQ:AMZN) is one of the AI Stocks on the Market’s Radar. On December 5, Evercore ISI reiterated its “Outperform” rating on the stock with a $335.00 price target. The rating affirmation follows Amazon’ annual AWS re:Invent conference, pointing to increased confidence in AWS inflection and cloud upside.

*”We reiterate our Outperform rating and $335 PT on AMZN in the wake of our key takes from the annual AWS re:Invent conference.”

Key takes from the conference include that the AWS Unlock has been sustainable, and that its inflection up to 20% is real and not a one-time spike. The firm’s channel checks also reveal that AWS is likely to grow 20% or more in 2026.

The firm further addressed that supply constraints that were previously hindering AWS growth have largely been addressed. Moreover, technology is ramping with Trainium 3 now generally available, and demand for the cloud industry is also accelerating rapidly.

Amazon.com Inc. (AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

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 NEXT: 10 AI Stocks Making Headlines on Wall Street and 12 Must-Watch AI Stocks on Wall Street. 

Disclosure: None.