AMZN is trading at $241.71, up 3.7% after Jefferies raised its price target to $300, citing accelerating AWS growth and AI tailwinds as major 2026 drivers.
- AWS delivered its fastest growth in 11 quarters at 20% in Q3 with 34.6% operating margins.
- Custom AI chips like Trainium 2 generated billions in revenue, showing 150% sequential growth.
- The stock is testing technical resistance at $240, supported by broader market strength as investors rotate into high-margin cloud infrastructure plays.