Amazon Rockets 14% as JPMorgan Raises Price Target to $365 on AWS Cloud Growth Momentum

Amazon shares surged as much as 14% after a strong Q2 earnings beat, with JPMorgan responding by raising its Amazon price target to $365—a forecast implying fresh record highs if the company's AWS cloud revenue growth trajectory holds through the second half of 2026.

• Amazon jumped up to 14% post-earnings, with Q2 results beating analyst estimates on AWS cloud revenue and overall profitability metrics
• JPMorgan raised its Amazon price target to $365, among the highest on Wall Street, citing sustained AWS growth acceleration and improving operating margins
• The revised JPMorgan target implies meaningful upside from pre-earnings levels and may trigger a wave of consensus price target upgrades from other banks

Amazon's up-to-14% surge following its Q2 earnings release marked one of the stock's strongest single-day moves this year. AWS revenue growth—which had slowed meaningfully through late 2024 before beginning a recovery—came in ahead of estimates in Q2, with management commentary pointing to enterprise AI workload adoption and cloud migration activity as key demand drivers going into H2 2026.

JPMorgan's decision to raise its Amazon price target to $365 reflects the bank's conviction that AWS is entering a multi-year re-acceleration phase rather than a temporary uptick. The analyst team cited enterprise AI deployment timelines, custom silicon adoption through Amazon's Trainium and Inferentia chips, and AWS geographic infrastructure expansion as structural growth drivers capable of sustaining elevated revenue growth rates well beyond the current quarter.

For investors, the combination of a 14% single-session move and a major bank's bullish target upgrade creates a challenging but important entry-point decision. Chasing the move risks overpaying at peak momentum; stepping aside risks missing continued appreciation if AWS numbers remain strong through Q3. The $365 JPMorgan target now serves as a new reference point for street consensus revisions and may anchor institutional investor positioning over the coming weeks.

Source: NDTV Profit | 1 source