Key Highlights
- AMZN shares reached their strongest close since November 2025, trading just 1.4% beneath the all-time record closing price of $254.
- Truist Securities increased its price objective to $285, forecasting 25% AWS revenue expansion in Q1 powered by artificial intelligence workloads.
- TD Cowen analyst John Blackledge maintained a Buy recommendation with a $300 price target, anticipating Q1 performance to surpass consensus projections.
- Street consensus projects Q1 earnings per share at $1.63 alongside revenue of approximately $177.15 billion, reflecting 14% annual growth.
- The e-commerce giant announced plans to purchase Globalstar for roughly $12 billion while establishing a satellite connectivity partnership with Apple.
The Seattle-based tech giant has been experiencing a remarkable upward trajectory. AMZN shares have finished in positive territory during nine out of the last 10 trading days, posting an impressive 20% gain throughout April. The stock has advanced 8.6% since the beginning of the year and now trades within striking distance of its historical peak.
Shares inched up 0.3% on Friday to reach $250.56, marking the strongest closing price since November 3, 2025. The company’s record closing high stands at $254, leaving AMZN less than 1.4% away from that milestone.
As the first-quarter earnings release approaches on April 29, optimism among Wall Street analysts continues to intensify. Street projections anticipate earnings per share of $1.63, representing a modest increase from the $1.59 reported in the comparable period last year, while total revenue is forecast to climb 14% to approximately $177 billion.
Truist Securities analyst Youssef Squali elevated his price objective on Friday to $285 from $280 while maintaining a Buy rating. His analysis projects AWS revenue expansion of 25% during Q1, up from the 23% growth recorded in Q4. This anticipated acceleration, according to Squali, stems from an expanding portfolio of AI collaborations—including partnerships with OpenAI and Anthropic.
Squali additionally forecasts North America marketplace sales will expand roughly 10% on an annual basis, characterizing macroeconomic challenges such as elevated fuel expenses as “manageable”—provided they remain temporary.
Wall Street Confidence Builds Before Quarterly Report
TD Cowen’s John Blackledge, recognized as a 5-star analyst, recently reaffirmed a Buy rating alongside a $300 price objective—suggesting approximately 20% upside potential from present trading levels. His projections indicate Q1 revenue will modestly exceed Street forecasts, with operating income landing roughly 4% above consensus estimates.
Blackledge highlights high-margin segments including advertising and AWS as primary profit catalysts, complemented by ongoing improvements in fulfillment efficiency.
For the second quarter of 2026, his revenue and operating income forecasts stand 1.5% and 5% above Wall Street consensus figures, respectively, signaling further AWS growth acceleration.
Overall Wall Street sentiment reflects a Strong Buy consensus on AMZN, supported by 42 Buy ratings against only 3 Hold ratings. The average analyst price target stands at $284.77—approximately 14% above current trading levels.
During Q4 2025, AWS posted 24% year-over-year revenue growth. Chief Executive Andy Jassy characterized it as the division’s “fastest growth in 13 quarters.” Market watchers now anticipate this positive trend will extend into Q1.
Expanding Into Satellite Communications
Beyond its upcoming earnings report, 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, assigning a valuation of slightly under $12 billion to the satellite operator.
This strategic acquisition enables Amazon to develop its own space-based internet infrastructure—a sector presently controlled by Elon Musk’s Starlink operation.
The company simultaneously finalized an arrangement with Apple to deliver satellite connectivity capabilities for existing and upcoming iPhone and Apple Watch products. This partnership leverages a pre-existing Globalstar contract Apple had previously secured.
The S&P 500 advanced 1.2% on Friday, while the Dow Jones Industrial Average climbed 1.8%. AMZN’s 0.3% movement during the same session appeared modest in comparison, though the stock’s sustained upward momentum preceding earnings has captured significant analyst attention.
The prevailing Wall Street price target of $284.77 implies roughly 14% upside potential from the stock’s latest closing price of $250.56.
