Amazon stock (NASDAQ: AMZN) opened Thursday’s trading session at $272 and is struggling to climb above the $300 level. The leading e-commerce giant slips in value every time its price nears the $290 level. This is the fourth time in 2026 that AMZN hovered near $290, only to see it plunge back to the $270 zone. The seesaw movement is what’s making traders take a step back, as the equity is at risk of heading south each time it surges in value.
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Amazon Stock Price Prediction: JP Morgan’s New Target (AMZN)
Douglas Anmuth, the Head of US Internet Equity Research at JP Morgan, gave a fresh price prediction for Amazon stock on Wednesday (August 5, 2026). The analyst maintained his buy rating on AMZN and urged institutional clients to start taking an entry position in the equity. He particularly mentioned Amazon Web Services (AWS) revenue, calling it a durable growth engine for the company.
AWS has generated $42.2 billion in revenue during the second quarter of 2026. That’s an increase of 37% year-over-year and has reached a record $169 billion annualized run rate. The analyst explained that AWS holds the key to Amazon’s prospects that can take its stock price higher. Accumulating AMZN well below the $300 level could be beneficial for traders who want to aim for bigger gains.
The JP Morgan analyst has predicted that Amazon stock would reach a price target of $365 next. That would be a profit of $93 per share if traders take an entry position today at $272. It is also a return on investment (ROI) of approximately 34% from its current price. Therefore, an investment of $1,000 could turn into $1,340 if the price prediction from JP Morgan turns out to be accurate. That’s double-digit gains, and investors can make the most out of AMZN.