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Amazon.com, Inc. (NASDAQ:AMZN) is a popular stock among hedge funds, and a majority of analysts rate it Buy. Amazon is one of the best stocks to buy now for the next 3 months.

Amazon.com, Inc. (NASDAQ:AMZN) has a dominant position in e-commerce and cloud services, making it a hedge fund favorite, and analysts also favor the stock heavily. Of 71 analysts covering AMZN, 68 rate the stock Buy, while 3 rate it Hold. The average median price target of $320 presents an upside of over 31%.

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On June 5, Amazon announced it had unveiled its various advertising formats, AI tools, and streaming partnerships at its Upfront Madrid 2026 event. The company’s goal is to strengthen its Ads revenue streams across its owned and third-party inventory. Amazon Prime Video is bringing its location-based interactive video Ads and Next Up Ads in Spain, while Amazon DSP has partnered with NewixMedia and is expanding its reach across Spain’s regional TV channels. Amazon has also expanded its partnership with Netflix in Spain, allowing advertisers to use Amazon Audiences to reach Netflix users through Amazon DSP.

The update to its advertising formats will strengthen Amazon’s position as a cross-platform advertising infrastructure play. Working on the AI side, Amazon’s Creative Agent and Ads Agent are also available for Spanish advertisers, providing them with real-time response data from live sponsored content and offering AI-powered chat sentiment analysis.

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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