Amazon.com, Inc. Amazon Shares are trading higher on Tuesday after the company announced the expansion of its collaboration with Intel Corp. INTC on Monday.

What you should know:

After the close of trading on Monday, Amazon announced the expansion of its cooperation with Intel Corp. INTC to produce an AI Fabric chip for AWS on Intel 18A and a custom Xeon 6 chip on Intel 3. AWS and Intel have worked together for over 18 years and said the companies also intend to explore the potential for additional designs to be manufactured by Intel based on Intel 18A and future process nodes including Intel 18AP and Intel 14A.

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What else: Amazon Best days for big deals, the company’s pre-Christmas savings campaign, will return on October 8 and 9 to usher in the holiday season. “We’re gearing up for another exciting holiday shopping season, filled with unbeatable deals on popular brands, seasonal products and popular gifts available exclusively to Prime members,” says the Vice President of Prime Worldwide. Jamil Ghani.

According to data from Benzinga Pro, Amazon stock is trading above its 50-day moving average of $179.64 and near its 52-week high of $201.20.

AMZN Stock Forecast 2024:

Stock analysis can be a valuable source of information to learn more about a company’s fundamentals. Analysts create financial models based on a company’s fundamentals and expected future earnings to determine a price target and recommendation for the stock.

The average price target for Amazon.com shares for the first year is $224.15, which represents an expected upside of 18.86%.

Based on different assumptions, analysts can arrive at very different price targets and recommendations. No analyst has a bearish recommendation for Amazon.com, while 39 analysts offer optimistic ratings. The highest price target from JMP Securities is $265, while the lowest from Benchmark is $200.

AMZN price promotion: According to Benzinga Pro, Amazon shares are up 1.90% at $188.40 at the time of publication on Tuesday.

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