Analysts are warning of a potential 10% correction for Amazon (NASDAQ: AMZN) ahead of its pivotal April 29 earnings call, despite the stock's recent 18.15% surge from $208 to $248. The e-commerce giant's Q1 2026 turbulence and subsequent Q2 rebound now face a critical test, with revenue numbers poised to dictate the equity's next major move and determine portfolio outcomes for investors.

Amazon Stock Price Prediction Ahead of the Earnings Call

Bank holding company Truist Financial Securities predicts Amazon could beat market expectations in the upcoming earnings call. Analyst Youssef Squali gave the buy call for Amazon stock on April 17, with a price target of $280. However, the analyst upgraded the price prediction to $285 on Monday. That’s a $5 increase in recommendation before the revenues call by the month’s end.

According to the institutional expert, the revenue growth would come from Amazon Web Services (AWS), accelerating from 23% in Q4 to 25% in Q1. The 2% revenue growth from its web services would strengthen its revenues, leading to robust results that can push Amazon stock up in the charts. The company’s Cloud platform comes with AI capabilities, enabling businesses, including banks and the military, to reduce costs and innovate faster.

Taking an entry position now, when Amazon stock is at the $248 level, could prove to be beneficial. If Truist Financial Securities price prediction on AMZN reaching $285 turns accurate, it would be a surge of 15%. Therefore, an investment of $1,000 could turn into $1,150 if the price prediction hits the target. Apart from Truist Financial Securities, many other financial institutions, like the Bank of America and KeyBanc Capital Markets, have given AMZN a buy call.