Top tech analyst says people are buying more things on Amazon because of AI. He raised his price outlook as a result

Top tech analyst says people are buying more things on Amazon because of AI. He raised his price outlook as a result

Amazon.com could rally as wider AI adoption drives up sales on its online shopping platform, per Evercore ISI.

Amazon Stock Jumps Nearly 4 Percent After Evercore ISI Raises Price Target on AI Driven Sales Growth

Amazon shares rose nearly 4% after Evercore ISI increased its price target, citing AI tools boosting retail sales. The company's cloud division also showed strong growth, supporting the stock's performance.

Why is Amazon stock surging 4% today

Amazon shares AMZN surged 4% on Friday after Evercore ISI raised its price target on the e-commerce and cloud computing giant to $355 from $315.16, while maintaining an Outperform rating. The move came as analysts pointed to improving trends across Amazon’s retail, artificial intelligence and cloud businesses. Evercore sees upside from AI-powered retail Evercore ISI based its revised target partly on findings from its 14th Annual US Online Retai…

Analysts set Amazon stock 12-month price target

Although Amazon.com, Inc. (NASDAQ: AMZN) stock has cooled off by more than 9% over the past four weeks after peaking at around $287.20 following a rally fueled by its strong second quarter (Q2) earnings beat, Mark Mahaney, a Wall Street analyst at Evercore ISI, expects a rebound towards a new all-time high (ATH) over the next 12 months.  Mahaney reiterated a ‘Buy’ rating for Amazon stock, according to a note sent to clients that Finbold analyzed…