Amazon shares hit a record after the report. They are no longer the worst in the G7

After the opening of the main trades in the U.S. on October 31, Amazon quotes soared more than 12% to $250.5. This became their new all-time high for the entire time of circulation on the Nasdaq exchange.

If the current dynamics of Amazon shares will continue until the end of the trading day, it will be the best growth of securities in a single day since the beginning of 2022, noted The Wall Street Journal. In addition, the shares may set a new record value at the close.

The fortune of Amazon founder Jeff Bezos was growing on October 31 at $23 billion (at the time of publication of this text), follows from the data of the Forbes Real-Time ranking, which is updated online according to quotes. Bezos was third on the list behind Tesla CEO Elon Musk and Oracle executive chairman Larry Ellison. Bezos's fortune grew faster on Friday than the others on the list. By comparison, Musk and Ellison's were up $5.1 billion and $5.2 billion, respectively, Forbes Real-Time shows.

Investors have been buying up the e-commerce giant's securities after strong quarterly results. In particular, Amazon reported a 20% rise in revenue for its cloud computing division Amazon Web Services (AWS), the best performance in almost three years and exceeding Wall Street forecasts.

"With the renewed growth of [Amazon's cloud division] AWS and positive comments this quarter, we believe investors have renewed confidence in management's ability to maintain its leadership position in AI," said Wedbush analyst Dan Ives, a well-known Wall Street techno-optimist, as quoted by CNBC.

JPMorgan analyst Doug Anmuth raised his target price on the company's securities to $305 from $265 - about 22% above the current price - and reiterated an Overweight rating ("above market," meaning buy advice), CNBC reports. Anmuth said the company was able to allay key investor concerns about AWS during the conference call, and the acceleration of revenue growth to 20% in the third quarter "turned the cloud business outlook around" ahead of 2026. Anmuth expects investor sentiment to improve in the coming months as AWS continues to build momentum and prove the effectiveness of its comprehensive AI strategy.

UBS, too, raised its target on the company's shares to $310 from $279 and reiterated a Buy rating on the stock. "We've been describing Amazon's stock as a compressed spring for some time, as investors have been waiting for evidence of revenue growth following massive investments. AWS's acceleration to 20% year-over-year growth in the third quarter is the most compelling signal so far," the UBS analyst said in a note quoted by CNBC. He added that the fresh data also confirms Amazon's strength in technology: Anthropic's Claude model is already being trained on 500,000 of Amazon's Trainium2 chips, and that number will rise to 1 million by the end of the year, while demand remains strong for the next-generation Trainium3 as well. This, according to the analyst, refutes doubts about the effectiveness of Amazon's own solutions. In addition, the use of Nvidia Grace Blackwell GPUs in the new AWS servers shows that the company has no problems with access to the advanced developments of this market leader in artificial intelligence equipment, UBS added.

Amazon shares are now worth 12.1% more than they were at the start of 2025. The company was the worst in the "Magnificent Seven" of tech giants by that measure, but a post-reporting surge helped it shake off that status. Now the last place is occupied by Apple, whose shares also updated the record on October 31: they are now 8% more expensive than they were at the beginning of 2025.

This article was AI-translated and verified by a human editor