Amazon.com Inc. experienced a stock gain of 1.16% during Prime Days and 2.40% over the past month, with a year-to-date increase of 0.89%. Jeff Bezos sold approximately 3 million shares worth $665.8 million as part of a plan to unload 25 million shares by May 2026. Analysts raised price targets for Amazon, anticipating strong Q2 results due to consumer resilience. The company plans to launch an AI model named Nova to compete in the AI sector, particularly against established players like OpenAI.
Amazon.com Inc. shares gained 1.16% over five trading sessions amid Amazon Prime Days. The stock is up 2.40% over the past month, with a year-to-date gain of 0.89%.
Jeff Bezos sold nearly 3 million shares valued at $665.8 million as part of a plan to offload up to 25 million shares through May 2026.
Truist raised its price target for Amazon to $250 from $226, maintaining a 'Buy' rating, expecting stronger than anticipated Q2 results driven by resilient North American consumers.
Amazon's plan to launch a proprietary AI model named Nova aims to compete with ChatGPT and others, intended as a cost-effective alternative in the competitive AI landscape.
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