Wells Fargo Lifts PT on Amazon.com (AMZN) Stock

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Best Monopoly Stocks to Buy According to Hedge Funds. On July 2, Wells Fargo raised its price objective for the company's stock to $313 from $312, while maintaining an "Overweight" rating. The firm expects a healthy Q2 amidst continued acceleration in AWS. That being said, while the firm anticipates the company to give guidance of operating income which will be above consensus, it expects Q3 revenue guidance to be slightly below the street estimates because of Prime Day timing shift.

The firm expects positive revisions to AWS as well as total company operating income. The new price objective of $313 is on the basis of 30x the firm's 2027 EPS estimate.

In a separate release, CNBC reported that Amazon.com, Inc. (NASDAQ:AMZN) is planning to garner at least $25 billion via an eight-part bond sale, with the tech giant looking to continue its massive AI buildout.

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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