finance
Wall Street Analysts Maintain Buy Ratings on Amazon and SanDisk Amid Market Volatility
Top Wall Street analysts have reiterated buy ratings on Amazon and SanDisk stocks, citing growth in cloud computing and AI-driven demand for flash memory. These recommendations come as Middle East tensions and high oil prices affect the stock market. The analysis is based on data from TipRanks, which tracks analyst performance.
Apr 5, 4:51 PM·2m read1 source
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Tensions in the Middle East related to the U.S.-Iran conflict and elevated oil prices have influenced the stock market this week. TipRanks, a platform that ranks analysts based on their past performance, reports that three stocks are favored by top Wall Street analysts. These analysts assign ratings after evaluating company fundamentals and macroeconomic and microeconomic factors.
Amazon (AMZN), an e-commerce and cloud computing company, received a reiterated buy rating from J.P. Morgan analyst Doug Anmuth. Anmuth raised his price target to $280 from $265. He described Amazon as a 'best idea' and revised estimates to account for demand and capacity expansion in the Amazon Web Services (AWS) cloud unit.
Adverse factors included changes in foreign exchange rates, increased fuel prices, international growth initiatives, and costs from the accelerated launch of Amazon Leo. Anmuth projects AWS growth of 29% in Q1 2026, 30% in Q2 2026, 29% in Q3 2026, and 28% in Q4 2026, followed by 26% in 2027. These projections reflect traditional workloads shifting to the cloud and increased AI adoption.
AWS expanded its partnership with OpenAI, the maker of ChatGPT, to a $138 billion deal over eight years. Anmuth expects the AWS backlog to increase by $100 billion quarter-over-quarter in Q1 2026. Higher fuel prices and international investments may pressure near-term operating income, while medium-term margin expansion is anticipated from North America inventory optimization, same-day delivery, robotics and automation deployment, and advertising business growth.
Anmuth ranks No. 352 among more than 12,100 analysts tracked by TipRanks. His ratings have been profitable 57% of the time, with an average return of 15.3%.
SanDisk (SNDK), a flash memory manufacturer, received a reaffirmed buy rating from Bank of America analyst Wamsi Mohan after meetings with company executives, including CFO Luis Visoso. Mohan set a price target of $900, citing a secular opportunity as AI inference increases the indispensability of NAND technology.
