Amazon.com, Inc. (NASDAQ:AMZN) is a top AI and technology stock according to Hedge Funds. Analyst Eric Sheridan reiterated a “Buy” rating with a $290 price target, highlighting the company’s strategic positioning and growth potential showcased at the recent AWS re:Invent conference.

Sheridan also noted the rise of AI agents transforming enterprise computing, with Amazon Bedrock playing a critical role in providing access to various AI models. Guggenheim analyst Simeon Siegel initiated coverage on Amazon.com, Inc. (NASDAQ:AMZN) with a “Buy” rating and $300 price objective, emphasizing the strong performance of AWS and its expanding power capacity.

Siegel mentioned the doubling of power capacity since 2022, with expectations for another doubling by 2027. AWS is positioned to lead in cloud computing and AI workloads due to its infrastructure scale and demand visibility. While Amazon (AMZN) is a solid investment, other AI stocks may offer greater upside potential with less downside risk.

For more insights on AI stock opportunities, check out Insider Monkey’s articles on “13 Cheap AI Stocks to Buy According to Analysts” and “11 Unstoppable Growth Stocks to Invest in Now.” Disclosure: None. This article was originally published on Insider Monkey.

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