SA analyst upgrades/downgrades: AMZN, SNDK, MRVL, ORI

Amazon.com, Inc. (AMZN) received an upgrade to Buy from analyst group Bay Area Ideas, driven by accelerating growth in Amazon Web Services (AWS) and robust second-quarter sales performance. The research note emphasizes that Amazon's current valuation remains at historically attractive levels, offering investors a compelling entry point as cloud demand rebounds and AI-related workloads scale across the platform. The upgrade comes amid a broader round of analyst revisions across the tech sector, which also saw bullish calls on AI infrastructure and memory technology providers. Analysts highlighted that the re-acceleration of AWS cloud revenue, combined with sustained retail operational efficiency and disciplined capital allocation, provides strong support for operating margin expansion in upcoming quarters. Market sentiment around Amazon remains broadly positive following the rating update, with investors focused on the trajectory of enterprise cloud spending and cloud margin durability heading into the second half of the year.