Reported 1 day ago
Analysts have updated their stock price target for Amazon from $220 to $250, driven by the company's advancements in AI technology via its AWS division. During the recent AWS re:Invent conference, Amazon unveiled plans for an Ultracluster AI supercomputer utilizing Trainium chips as a cost-effective alternative to Nvidia GPUs. This comes as AWS continues to dominate the cloud market with a 31% share, significantly contributing to Amazon's financial performance, particularly with a 19% year-over-year sales increase in Q3 2024.
Source: YAHOO