Key Highlights
- AMZN shares reached their strongest level since November 2025, trading just 1.4% beneath the all-time record close of $254.
- Truist Securities boosted its price objective to $285, forecasting 25% AWS revenue expansion in Q1 fueled by artificial intelligence demand.
- TD Cowen analyst John Blackledge maintained a Buy recommendation with a $300 target, anticipating quarterly results will surpass expectations.
- Consensus estimates project Q1 earnings per share of $1.63 with revenues reaching approximately $177.15 billion, representing 14% annual growth.
- The e-commerce giant announced plans to purchase Globalstar for roughly $12 billion while securing a satellite partnership with Apple.
Amazon’s stock has been quietly building momentum. Shares have finished in positive territory during nine out of the last 10 trading days, posting a remarkable 20% advance throughout April. The year-to-date performance shows an 8.6% increase, with the stock now approaching its historic peak.
Shares inched up 0.3% on Friday to settle at $250.56, marking the highest closing price since November 3, 2025. The company’s all-time closing record stands at $254, representing a gap of less than 1.4%.
As the first-quarter earnings announcement approaches on April 29, analyst sentiment has grown increasingly optimistic. Market expectations point to earnings per share of $1.63, a modest improvement from the $1.59 reported in the same period last year, while total revenues are anticipated to climb 14% to approximately $177 billion.
Truist Securities analyst Youssef Squali elevated his price objective on Friday from $280 to $285, maintaining his Buy recommendation. His forecast calls for AWS revenue expansion of 25% during Q1, representing an uptick from the 23% recorded in Q4. This anticipated acceleration stems from an expanding roster of AI collaborations, including partnerships with OpenAI and Anthropic.
Squali also anticipates North America marketplace revenues will advance approximately 10% on a year-over-year basis, characterizing macroeconomic challenges such as elevated fuel expenses as “manageable” — provided they remain temporary.
Street Sentiment Strengthens Before April 29 Report
TD Cowen’s John Blackledge, who holds a 5-star analyst rating, confirmed his Buy stance with a $300 price objective — suggesting approximately 20% potential upside from present levels. His projections indicate Q1 revenues will marginally exceed consensus forecasts, with operating income landing roughly 4% above market expectations.
Blackledge identifies high-margin advertising services and AWS as the primary profit catalysts, complemented by ongoing improvements in fulfillment operations.
For the second quarter of 2026, his revenue and operating income projections exceed Wall Street consensus by 1.5% and 5% respectively, signaling further AWS growth acceleration.
The broader analyst community maintains a Strong Buy consensus on AMZN, supported by 42 Buy ratings against only 3 Hold recommendations. The mean price target stands at $284.77 — approximately 14% above current trading levels.
During the fourth quarter of 2025, AWS delivered 24% year-over-year revenue growth. Chief Executive Andy Jassy characterized this as the division’s “fastest growth in 13 quarters.” Market observers now anticipate this positive trajectory will extend into Q1.
Space-Based Connectivity Ambitions
Beyond the earnings narrative, Amazon has been actively pursuing strategic transactions. The company revealed on Tuesday its intention to acquire Globalstar at an equivalent price of $90 per share, establishing a total valuation just below $12 billion for the satellite communications provider.
This acquisition positions Amazon to develop its own orbital broadband infrastructure — a sector presently led by Elon Musk’s Starlink network.
Additionally, Amazon finalized an arrangement with Apple to deliver satellite connectivity capabilities for existing and upcoming iPhone and Apple Watch products. This agreement builds upon a pre-existing Globalstar partnership that Apple had previously established.
The S&P 500 index advanced 1.2% on Friday, while the Dow Jones Industrial Average climbed 1.8%. AMZN’s 0.3% gain appeared relatively modest in comparison, though the stock’s sustained upward movement heading into the earnings release has captured significant analyst attention.
The consensus Wall Street price target of $284.77 implies roughly 14% appreciation potential from the stock’s latest closing price of $250.56.
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