Goldman raises Amazon 2027-2030 capex estimates for AWS spending
Goldman Sachs analyst Eric Sheridan said ahead of Amazon's upcoming earnings report that the stock has remained volatile intra-quarter, with a downward trend as investor focus has shifted across an array of debates. The firm is raising its 2027-2030 capex estimates for AWS on the back of continued constraints between the demand for AI and the wider supply of compute, telling investors that it now expects Amazon to spend a cumulative $827B between 2026-2028E before capex growth decelerating to a more normalized level in 2029. The reiterated its Buy rating and raised its 12-month price target on Amazon shares to $335 from $325. The firm's raised capex expectations for AWS are being pointed to as a reason for strength in several semiconductor names, contacts tell.
Goldman Sachs analyst Eric Sheridan said ahead of Amazon's upcoming earnings report that the stock has remained volatile intra-quarter, with a downward trend as investor focus has shifted across an array of debates.
The firm is raising its 2027-2030 capex estimates for AWS on the back of continued constraints between the demand for AI and the wider supply of compute, telling investors that it now expects Amazon to spend a cumulative $827B between 2026-2028E before capex growth decelerating to a more normalized level in 2029.
The reiterated its Buy rating and raised its 12-month price target on Amazon shares to $335 from $325.
The firm's raised capex expectations for AWS are being pointed to as a reason for strength in several semiconductor names, contacts tell.