Analysts Raise Amazon Targets to $312-$350 as AWS AI Growth Holds at $270

As of mid-May 2026, Amazon shares closed at $270.13 after a 9.8% drop triggered by $200 billion 2026 capex concerns. The stock rebounded on robust institutional buying and continued analyst upgrades. Q1 results showed AWS revenue surging 28% to $37.6 billion with a $364 billion backlog, prompting TD Cowen, JPMorgan, and others to lift targets to $330-$350. Hedge funds including Pershing Square and Appaloosa added millions of shares in Q1 13F filings, making AMZN their top AI infrastructure bet. Despite Berkshire Hathaway's full exit, 60 of 65 analysts rate the stock Buy with none issuing sells.