Key Takeaways
- AMZN shares reached their highest point since November 2025, trading just 1.4% beneath the record closing price of $254.
- Truist Securities lifted its price objective to $285, forecasting 25% year-over-year AWS revenue expansion in Q1 fueled by artificial intelligence demand.
- TD Cowen analyst John Blackledge maintained his Buy recommendation with a $300 price target, anticipating earnings that surpass Wall Street projections.
- First-quarter consensus estimates call for earnings per share of $1.63 and total revenue approaching $177.15 billion, reflecting 14% annual growth.
- The e-commerce giant announced plans to purchase Globalstar for approximately $12 billion while securing a satellite services agreement with Apple.
Amazon’s stock has been mounting an impressive rally with minimal fanfare. Shares have posted gains in nine out of the last 10 trading days and have soared 20% throughout April. The year-to-date performance stands at 8.6%, bringing the stock within striking distance of its historical peak.
Friday’s session saw AMZN inch up 0.3% to close at $250.56, marking its strongest finish since November 3, 2025. The all-time closing record of $254 remains tantalizingly close — representing less than a 1.4% climb.
With the company’s first-quarter financial results scheduled for release on April 29, analyst sentiment continues to strengthen. Wall Street forecasts call for earnings per share of $1.63, representing a modest increase from the prior year’s $1.59, while revenue is projected to climb 14% to approximately $177 billion.
Truist Securities analyst Youssef Squali boosted his price objective Friday from $280 to $285 while maintaining his Buy recommendation. His model projects AWS revenue will expand by 25% in the first quarter, up from the fourth quarter’s 23% growth rate. This upward trajectory, according to Squali, stems from an expanding roster of AI collaborations — notably including OpenAI and Anthropic.
Squali also anticipates North America marketplace revenue will increase roughly 10% on an annual basis, characterizing macroeconomic challenges such as elevated fuel prices as “manageable” — provided they remain temporary.
Wall Street Grows Optimistic Before April 29 Report
Separately, TD Cowen’s John Blackledge, recognized as a 5-star analyst, reaffirmed his Buy stance with a $300 price objective — suggesting approximately 20% potential appreciation from present levels. His forecast calls for first-quarter revenue to marginally exceed Street projections, with operating profit landing roughly 4% above consensus figures.
Blackledge highlights high-margin segments including advertising and AWS as primary profit catalysts, coupled with ongoing improvements in fulfillment operations.
For the second quarter of 2026, his revenue and operating income projections sit 1.5% and 5% above consensus estimates, respectively, signaling further AWS momentum.
The Street maintains a Strong Buy consensus rating on AMZN, supported by 42 Buy recommendations and only 3 Hold ratings. The mean price objective stands at $284.77 — approximately 14% above current trading levels.
During the fourth quarter of 2025, AWS posted 24% year-over-year revenue growth. CEO Andy Jassy characterized it as the division’s “fastest growth in 13 quarters.” Analysts widely anticipate this strength will persist through the first quarter.
Space-Based Connectivity Expansion
Beyond earnings expectations, Amazon has been actively pursuing strategic transactions. Earlier this week, the company revealed plans to acquire Globalstar at an equivalent price of $90 per share, placing the satellite company’s valuation just below $12 billion.
This strategic acquisition enables Amazon to develop its own satellite-based broadband infrastructure — a sector presently led by Elon Musk’s Starlink.
Additionally, Amazon finalized an arrangement with Apple to deliver satellite connectivity capabilities for existing and upcoming iPhone and Apple Watch products. This partnership builds upon an existing Globalstar contract Apple previously established.
The S&P 500 advanced 1.2% on Friday, while the Dow Jones Industrial Average climbed 1.8%. AMZN’s 0.3% gain that session appeared modest in comparison, yet the stock’s sustained upward movement heading into the earnings announcement has captured significant analyst attention.
The current average Wall Street price target of $284.77 implies roughly 14% upside potential from the stock’s latest close of $250.56.
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