2026년 2월 24일 · Unknown · financial · 출처 Yahoo Finance
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Amazon.com’s fair value estimate has been trimmed slightly from US$285.08 to US$281.46 per share, signaling a modest reset in modeled upside. That shift lines up with recent analyst commentary that balances optimism around AWS and advertising with concerns about margins, capital spending, and where the shares should trade. As you read on, you will see how to track these evolving calls and use them to frame your own view on Amazon’s long term story.
Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Amazon.com.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
Wells Fargo, which recently adjusted its Amazon.com price target to US$304 from US$305, continues to highlight AWS and compute capacity as central, pointing to AI driven demand and a view that hyperscaler capacity could reach 98GW on annual sector CapEx of US$860b by 2027. TD Cowen lifted its target to US$315 from US$300 after its advertising buyer survey, indicating Amazon is expected to be among the largest share gainers of ad budgets, with over 60% of surveyed Amazon advertisers planning to increase spend in 2026. Wells Fargo’s earlier move to US$301 from US$295 framed Amazon as its top Internet pick for 2026 at a P/E of about 25x on 2027 GAAP earnings, tying the thesis to potential AWS acceleration.
🐻 Bearish Takeaways
Cantor Fitzgerald cut its target to US$260 from US$315, even while keeping an Overweight rating, citing macro questions around Global Internet stocks and highlighting that valuations, in its view, sit below medium term ranges. Wolfe Research reduced its target to US$275 from US$305, flagging elevated multiples across parts of the sector and framing Amazon within a group where recent outperformance and valuation levels are key watchpoints.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!NasdaqGS:AMZN 1-Year Stock Price Chart
We've flagged 1 risk for Amazon.com. See which could impact your investment.
What's in the News
Amazon has surpassed Walmart as the largest U.S. company by annual revenue, with reported sales of about US$716.9b versus Walmart's US$713.2b in the year through January 31, according to the Wall Street Journal. Reports indicate Amazon is involved in discussions around large scale AI investments, including a potential US$50b investment in OpenAI and participation alongside Nvidia and Microsoft in multi billion dollar funding rounds that could value OpenAI above US$850b. Amazon Web Services is expanding its AI and cloud offerings, including a planned AI product marketplace, new Graviton5 based EC2 M9g instances, and an expanded Nova AI model suite with Nova 2, Nova Forge, and Nova Act. Regulatory and legal scrutiny continues, with Italian tax police searching Amazon's Milan offices in a tax probe and a U.S. federal judge allowing a class action price gouging lawsuit related to the early COVID 19 period to proceed.
Story Continues
How This Changes the Fair Value For Amazon.com
Fair value revised from US$285.08 to US$281.46 per share, indicating modestly lower modeled upside. Long term dollar revenue growth assumption adjusted from 11.93% to 12.14%. Net profit margin assumption moved from 13.15% to 12.76%. Future P/E multiple updated from 30.75x to 30.99x. Discount rate adjusted from 8.58% to 8.57%.
Never Miss an Update: Follow The Narrative
Narratives link Amazon.com's business story to a structured forecast and fair value, updating as new data points come through. They help you see how catalysts and risks fit together rather than looking at each headline in isolation.
Head over to the Simply Wall St Community and follow the Narrative on Amazon.com to stay up to date on:
How AWS and its AI stack, including custom silicon and model tools, could support high margin cloud growth as more IT spend moves from on premises to the cloud. The role of logistics automation, international expansion, and a broader Prime ecosystem in driving cost efficiency and recurring revenue across retail. Key pressure points such as supply chain and tariff risks, rising capital intensity and competition in AWS, and ongoing regulatory scrutiny that could weigh on margins and growth consistency.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include AMZN.
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