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Backed by one-year EPS and revenue growth estimates of 22.42% and 11.61%, respectively, Amazon.com, Inc. (NASDAQ:AMZN) ranks among the best growth stocks to buy and hold in 2026. The stock has 14% upside potential as of April 23, 2026.

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Amazon.com, Inc. (NASDAQ:AMZN) heads into late April 2026 with solid analyst backing. BMO Capital raised its price target on the stock to $315 from $310 on April 23, 2026, keeping its “Outperform” rating in place. The move was driven by channel checks indicating that AWS growth was picking up pace in the first half of the year.

Investors, however, are still waiting for proof that Amazon.com, Inc. (NASDAQ:AMZN)’s heavy spending is delivering real returns, and BMO flagged that openly. On the retail side, although consumers are still holding up, economic uncertainty and rising global tensions have begun to take a toll on sales.

The revenue picture added some reassurance.

On April 9, 2026, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) had disclosed annualized revenue of more than $15 billion from AI services at its cloud-computing unit, based on first-quarter performance. That figure gave investors an unusually clear window into how much the company’s infrastructure buildout is actually generating at a time when such visibility has been hard to come by.

The backdrop makes that number even more meaningful.

Amazon.com, Inc. (NASDAQ:AMZN) has projected around $200 billion in 2026 capex, with the bulk of it going toward building out its cloud and data center capacity. Reuters reported that CEO Andy Jassy said the company was not spending without a plan and that it already had firm customer commitments backing a large portion of its expected AWS infrastructure spend.

Rounding out the picture, Amazon’s custom chip business, including Graviton, Trainium, and Nitro, had crossed an annualized revenue run rate of more than $20 billion, underlining the growing scale of its infrastructure push.

Amazon.com, Inc. (NASDAQ:AMZN) operates across e-commerce, digital content, advertising, and cloud computing. Its online and offline stores offer both in-house and third-party products, while its Amazon Web Services (AWS) division runs one of the world’s largest data center networks.

While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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