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Bank of America Revises Amazon Stock Target Amid Workforce Reductions and AI Spending

Bank of America Revises Amazon Stock Target Amid Workforce Reductions and AI Spending

Author:

Global Cryptocurrency

Published:

2026-01-29 11:32:02

19

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BTCCSquare news:

Amazon shares faced downward pressure as the company announced plans to cut 16,000 jobs and shutter remaining Fresh grocery stores and Go markets. The move, described by HR chief Beth Galetti as part of broader efficiency efforts, comes alongside significant investments in AI infrastructure.

Bank of America slashed its price target for AMZN from $303 to $286, citing workforce reductions, retail closures, and rising AI expenditures. The revised forecast represents a $17 drop from previous estimates that anticipated the stock surpassing $300.

Competitive pressures loom large—local retailers challenge Amazon's market position while AWS clients optimize cloud spending, squeezing margins. Regulatory scrutiny of third-party marketplace practices and tariff-related economic uncertainty further cloud the outlook.

By:

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