StocksMedium•2 November 2026•
1 min read
Amazon Shares Surge 5% on Analyst Upgrade and AWS Cloud Strength
Key Facts
1Amazon stock rose 5% to $251.77 in morning trading following an analyst upgrade.
2The price rebound is driven by renewed Wall Street confidence in AWS cloud growth following recent earnings.
Amazon stock rose 5% to $251.77 in morning trading on November 2, 2026, following an analyst upgrade. According to 247wallst.com, Phillip Securities upgraded the stock to Buy from Accumulate and raised its price target to $330 from $320.
The price rebound is driven by renewed Wall Street confidence in the AWS cloud division, with analysts citing exceptionally strong demand and positive revenue growth projections. Amazon shares previously closed at $240.35 on October 30, 2026, while Alphabet (GOOGL) closed at $279.84 and Microsoft (MSFT) closed at $521.91 on the same date.