Wells Fargo Reiterates Overweight Rating for Amazon (AMZN) as AI Compute Demand Doubles

Amazon.com Inc. (NASDAQ:AMZN) is one of the best high volume stocks to invest in now. On February 23, Wells Fargo lowered its price target for Amazon.com from $305 to $304 while keeping an Overweight rating. This sentiment was posted as the firm identified compute capacity as the critical factor for success, as AI demand outpaces supply. Wells Fargo projects hyperscaler capacity will double to 98GW by 2027, supported by $860 billion in annual capital expenditures, and expects the cloud industry to grow sig ...