Main actionable signal is reiteration of a positive sell-side view (BofA Buy/$310 target) along with supportive AI/cloud and Prime Day growth discussion; these items can influence sentiment over several sessions but are not a direct earnings/product launch.
Amazon. com, Inc. (AMZN) Is A Top Richard Chilton AI Stock Ramish Cheema Sun, June 28, 2026 at 12:33 PM GMT+2 2 min read AMZN Amazon.
com, Inc. (NASDAQ:AMZN) is one of the 10 Best Stocks to Buy According to Billionaire Richard Chilton . eCommerce giant Amazon.
com, Inc. (NASDAQ:AMZN)'s shares are up by a modest 4. 5% over the past year and are flat year-to-date.
As reported by Investing. com, Bank of America discussed the shares on June 18th. It kept a Buy rating and a $310 share price target.
BofA discussed Amazon. com, Inc. (NASDAQ:AMZN)'s Prime Day event as part of its coverage and commented that it expected Gross Merchandise Value to grow by 4.
5% annually and sit at $11. 6 billion. The bank added that third-party GMV should grow by 5% to $11 billion.
As Prime Day unfolded, Bloomberg was out with some fresh stats. The publication reported that first-day spending at all retailers was $8. 3 billion, which exceeded Adobe Analytics' estimates of $7.
9 billion and set a new record. Amazon. com, Inc.
(NASDAQ:AMZN) is currently trading at a forward P/E multiple of 31. 15, which is higher than the S&P 500's 21. Indiana Just Cleared the Full Legal and Regulatory Framework for Amazon’s (AMZN) Data Center Expansion Ttatty / Shutterstock.
com Amazon. com, Inc. (NASDAQ:AMZN)'s cloud computing business is also focusing on custom AI chips to lessen dependence on NVIDIA's products.
CNBC's Jim Cramer discussed the strategy in a recent appearance: "Google and Amazon announce once again that they have competitive chips to Nvidia and they are going to sell them to others…. How many times have they done that? Benchmarks?
Clients? " While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy . Disclosure: None. Follow Insider Monkey on Google News .
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