As Demand for AWS’ AI Surges, Citi and JPMorgan Raise Amazon Price Targets

Quick Read Amazon (AMZN) faces a $285 price target from Citi and JPMorgan following simultaneous upgrades on March 25, 2026, both centered on AWS AI demand accelerating to 28-29% growth in 2026 and 37% in 2027, with custom chip revenue (Trainium and Graviton) running above $10B annually at triple-digit growth. Citi and JPMorgan expect Amazon’s AWS division and $200B in planned 2026 capital expenditures to drive multiple expansion and earnings growth, though trailing twelve-month free cash flow declined ...