Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVandita JadejaTue, June 23, 2026 at 5:13 PM GMT+2 4 min readQuick ReadAMZN beat Q1 EPS by 68% yet sits 12% below its 52-week high, giving our model a BUY with 38% upside.Amazon's $364 billion AWS backlog and $225 billion in Trainium commitments support a bull case target of $367, a 57% return.Even the bear case lands at $278, still 19% above today's price, with 47 analyst Buys and zero Sells on record.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn't make the cut. Grab the names FREE today.Amazon (NASDAQ:AMZN) just delivered its fastest AWS growth in 15 quarters, yet shares have pulled back from recent highs. With analyst consensus overwhelmingly bullish, our proprietary model offers a clear read on whether this dip is a gift or a warning.jetcityimage / iStock Editorial via Getty ImagesThe 24/7 Wall St. Price Target for AmazonOur 24/7 Wall St. price target for Amazon is $321.47 over the next 12 months, implying 38.09% upside from the recent close of $232.79. The model carries a 90% confidence score, and the recommendation reads buy.MetricValueCurrent Price$232.7924/7 Wall St. Price Target$321.47Upside38.09%RecommendationBUYConfidence Level90%Amazon trades roughly 12% below its 52-week high of $278.56 after a Q1 2026 earnings report that beat EPS estimates by 68.18%. Accelerating AWS growth, expanding operating margins, and a reset stock price give the model an unusually clean entry.An Earnings Blowout the Market Hasn't RewardedAMZN has slipped 5.38% over the past week and 12.59% over the past month, leaving shares up 0.85% year to date and 11.02% over twelve months.The Q1 2026 release on April 29 showed strong results: revenue of $181.519 billion (16.61% YoY growth), EPS of $2.78 versus $1.653 expected, and operating income up 29.6% to $23.852 billion.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn't make the cut. Grab the names FREE today.AWS grew 28% to $37.587 billion, and the chips business surpassed a $20 billion run rate. The stock drifted lower partly on retail concerns that the $200 billion 2026 capex plan will weigh on free cash flow, which fell 95% TTM to $1.2 billion.The Case for $366 and HigherThe bull scenario builds on an AWS backlog of $364 billion, which does not yet include the recent Anthropic deal of over $100 billion. CEO Andy Jassy noted "we now have over $225 billion in revenue commitments for Trainium", with OpenAI committing 2 GW of Trainium capacity starting 2027 and Anthropic up to 5 GW.Operating margin hit 13.1% in Q1, the highest ever, and advertising crossed $70 billion in TTM revenue. Our bull case projects $366.62 within 12 months, a 57.49% return. Bullish analyst ratings cluster heavily: 47 Buys, 15 Strong Buys, and zero Sells. JP Morgan has an Overweight rating with a price target of $330. Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info