Amazon shares surge as Meta inks multi-billion dollar AWS deal and analysts boost targets
Updated
Updated · stockstory.org · Apr 24
Amazon shares surge as Meta inks multi-billion dollar AWS deal and analysts boost targets
5 articles · Updated · stockstory.org · Apr 24
Amazon stock closed up 3.5% at $263.95 after Meta agreed to use AWS Graviton chips for next-generation AI, making Meta a major AWS customer.
Several analysts, including BMO, UBS, and Oppenheimer, raised price targets, citing accelerating AWS growth driven by AI demand ahead of Amazon’s first-quarter earnings report.
This move follows Amazon’s recent $11.6 billion Globalstar acquisition and partnership with Apple for satellite services, with Amazon shares up 16.7% year-to-date and reaching a new 52-week high.
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