Morgan Stanley named Amazon its “Top Pick” with a $350 price target, and analyst Brian Nowak called it a “Rule of 90” company. He now expects AWS growth of 47% next year and 42% in 2028, after Nvidia said Amazon is expected to buy 2 million of its GPUs over the next two years, with AWS revenue rising from $128.7 billion in 2025 to $373.6 billion in 2028. He also forecasts capital expenditures of $355 billion in 2027 and $365 billion in 2028, AWS operating margins of 42% and 44%, and adjusted EPS of $16.50 in 2028. Other catalysts include Amazon’s possible role in AI shopping, a potential partnership with Meta Platforms, and robotics, where every 10% of units processed through robot-powered fulfillment centers could save $2–4 billion a year.
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Keywords
AMZNartificial intelligencecloud computingAI investmentNvidia
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Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/21/2026 | 262.28 |
| Change that session | -0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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