Amazon (AMZN) closed at $245.63, up 2.20%, after Phillip Securities upgraded the stock to “buy” and raised its price target by $10 to $330. Analyst Helena Wang raised her rating and fiscal 2027 revenue estimates, citing strong cloud demand: AWS sales jumped 39% year over year to $46 billion, the fastest growth in nearly five years, and operating income rose 61%. Trading volume reached 57.7 million shares, about 51% above the three-month average of 38.3 million. The stock had slid after last week's earnings report, where heavy AI-related capital spending and cash outflows triggered an initial negative reaction. Broader markets declined, with the S&P 500 down 0.50% to 7,542 and the Nasdaq Composite down 1.07% to 25,164.
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AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.6T |
| Close on 11/02/2026 | 245.63 |
| Change that session | +2.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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