Amazon Price Prediction: The Stock’s Path Toward $300 Looks Clearer

Amazon's stock price prediction points toward a clear path to reach $300, according to analysts. Amazon's AWS division posted a remarkable 36.7% growth, marking its highest growth rate in 18 quarters. Despite this impressive performance, the stock trades at an 18x forward multiple, which is below its five-year average. To reach $300, Amazon would need only a 19.1% upside and a 21x forward P/E ratio.

In the past 90 days, 2026 EPS estimates surged from $8.66 to $12.57, indicating a strong upward revision. While the consensus target sits at $328.17, based on our internal model, the target is $353.36, indicating a 40.29% upside. We believe that Amazon's current stock price of $251.89 only needs a 19.1% gain to reach $300, with a forward multiple of 21x.

This target is achievable given AWS's robust backlog of $496 billion, which is growing at triple-digit rates. The company's AI and Chips businesses are also at multi-billion annualized runs. The primary risks lie in potential over-capitalization and sudden AI capex resets. However, if AWS growth stays above 30%, Q3 operating income hits the high end of estimates, and investors accept the potential for a trillion-dollar annual revenue segment, Amazon has the blueprint to reach $300 in 2026.