Amazon shares rose 3.5% after Cantor Fitzgerald raised its price target from $250 to $260. The investment firm maintained an overweight rating on the stock.
Analysts cited continued momentum in Amazon’s high-margin Artificial Intelligence and AWS cloud computing divisions. The report highlighted expanding partnerships and strong commercial traction as primary growth drivers.
Uber increased its utilization of AWS services and custom chips. This partnership signals sustained demand for Amazon’s infrastructure and bolstered investor confidence in future growth.