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StocksMediumUpdated•Originally published 23 March 2026•Updated 23 March 2026•

1 min read

Barclays Reiterates Overweight Rating on Amazon with $300 Price Target

Jeff Bezos in a suit over a map of the US with logistics routes, Amazon delivery vans, boxes, a drone, and a warehouse.

Key Facts

1Barclays reiterated its Overweight rating on Amazon with a $300 price target.

2 months ago

Version History

2 additional sources confirmed this story

Version 12 months ago

What changed: Added details on the 1 million Nvidia GPU deal, the OpenAI-Pentagon connection, and clarified that AWS represents 57% of operating income.

Barclays has reaffirmed its "Overweight" rating on Amazon (AMZN) with a $300 price target, citing massive infrastructure and partnership expansions. The company has secured a landmark deal for 1 million Nvidia GPUs to bolster its cloud capabilities. Furthermore, the $138 billion AWS agreement with OpenAI is strategically linked to the Pentagon, effectively reducing the "Anthropic overhang" risk. Financially, AWS remains the company's primary engine, accounting for 57% of Amazon's total operating income. Analysts expect the AWS backlog to exceed $350 billion next quarter, complemented by a 35% surge in Anthropic’s recurring revenue. These factors solidify Amazon's dominant position in the "agentic AI" landscape through its AWS and Bedrock platforms.