- AMZN continues to lag some of its major companions in the “Magnificent Seven.” Is it going to be a value play? Eventually, yes, I believe so.
Amazon
Amazon has risen over 2.5% for the day in early New York trading as the short-term bullish recovery following a correction in late 2025 continues. All things being equal, most analysts around the world are bullish on Amazon. Just this morning, Jefferies raised its price target to $300, citing accelerating AWS growth and AI tailwinds. This will be a major driver in 2026, from what I see.
Analyst Upgrades and Cloud Growth
That is probably the easiest call to make because Amazon has a massive cloud structure that people will start to look at as a hosting environment and a workspace for artificial intelligence. Looking at the technical analysis, the market has been fairly flat over the last month or so, but it is holding its own. That is the most important takeaway here, as the market is stacking moving averages as well as short-term back and forth action between basically $220 on the bottom and $235 on the top. This has been an area that I think is starting to look a bit like accumulation for a bigger push later.
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The short-term resistance is found at the $240 level, but if we can break above there, then we could see the all-time high tested again at $260. The market has underperformed in comparison to some of the other Magnificent Seven, so that does play into the idea of a little bit of a value proposition, if you will, based on traders looking to play all of the usual names. The market is starting to price in a shift from building AI into actually running it on that cloud service, which is a major dominant player in the world.
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