Analyst sets date when Amazon stock will hit $248

Core Viewpoint - Bank of America has raised Amazon's target price from $230 to $248 while maintaining a Buy rating for the next 12 months, driven by growth in robotics and artificial intelligence [1] Group 1: Robotics and AI Impact - Amazon currently utilizes over 750,000 robots, which assist with approximately 75% of customer orders, indicating a significant reliance on automation [2] - The introduction of a 12th-generation automated fulfillment center in late 2024 and eight new delivery-focused robots in May 2023 is expected to further enhance operational efficiency and growth [2] Group 2: Expansion and Market Position - Amazon is expanding its Amazon Web Services (AWS) data centers in multiple countries, including Chile, New Zealand, Saudi Arabia, and Taiwan, which will increase its exposure to Nvidia-developed chips [3] - The company aims to leverage robotics to reduce labor dependence, improve order accuracy, and enhance warehouse efficiency [3] Group 3: Financial Performance and Projections - Amazon's retail operating margin has improved to 5.4% in 2024 and is projected to reach up to 11%, indicating strong financial momentum [4] - The current stock price is $205.01, with a slight premarket decline of 0.34%, but analysts predict an upside potential of 12.19% based on the bullish outlook [4]