Core Viewpoint - Amazon.com Inc. shares have experienced a slight decline of about 2.5% this week but remain over 7% higher since the beginning of the month, indicating a potential bullish momentum shift [1][2] Technical Analysis - The MACD indicator has recently shown a bullish crossover for Amazon, suggesting that recent price action is accelerating upward compared to longer trends [3][4] - This bullish crossover is a classic sign that momentum is shifting back in favor of buyers, indicating that short-term weakness may have ended [4] Fundamental Analysis - Amazon's recent earnings report exceeded Wall Street expectations, with significant growth in its AWS unit, supporting the attractiveness of the stock despite its higher price-to-earnings (P/E) ratio of approximately 35 [5][6] - The stock is not considered a value stock, but investors are willing to pay a premium for its growth potential, especially as bearish sentiment appears to be waning [6] Analyst Sentiment - The 12-month stock price forecast for Amazon is $262.87, indicating an 18.60% upside based on 50 analyst ratings, with a current price of $221.64 [7][8] - Analysts from Morgan Stanley, Citigroup, and Evercore have reiterated Buy ratings, contributing to a nearly unanimous bullish stance on Amazon [8][9] Price Targets and Market Outlook - Recent price targets for Amazon range as high as $300, suggesting over 30% potential upside from recent closing prices [9] - There is an expectation that Amazon may retest July's high around the $235 mark, with a close above this level potentially paving the way to February's all-time high of around $242 [10]