Amazon shares are holding relatively steady in pre-market trading despite broader market weakness driven by new US tariffs on European nations, reflecting strong analyst optimism regarding the stock.
- The stock's resilience is underpinned by strong analyst consensus, with 81 of 85 analysts rating the stock Buy.
- The consensus price target stands at $297.02, citing attractive valuations and robust AWS growth prospects.
- The broader market decline is linked to President Trump's announced 10% tariffs on eight European nations, prompting the EU to coordinate retaliatory tariffs targeting US Big Tech.