EL7.AI
StocksMediumUpdated•Originally published 23 March 2026•Updated 23 March 2026•
1 min read

Barclays Reiterates Overweight Rating on Amazon with $300 Price Target

Key Facts

1Barclays reiterated its Overweight rating on Amazon with a $300 price target.
2AWS secured a major agreement with OpenAI with total expected spending of approximately $138 billion over seven to eight years.
3AWS backlog is anticipated to exceed $350 billion in the upcoming quarter.
4Anthropic reportedly saw annual recurring revenue (ARR) rise by 35% within weeks, driven by products like Claude Code.

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.