Amazon.com Inc. (AMZN) Buy Rating Reiterated by BofA Securities

Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 Best AI Stocks to Buy in June. On June 6, Investing.com reported that BofA Securities reiterated its $310 price target and Buy rating on Amazon, driven by developments in the company’s Leo satellite internet project.

Amazon.com, Inc. (AMZN) Is "An Overall Piece," Says Jim Cramer

The analyst noted that Amazon is approaching an operational tipping point in the satellite project as deployment accelerates and commercial services near launch, highlighting that the firm has increased its launch cadence in the second quarter, with currently over 300 satellites in orbit.

Earlier on June 5, Amazon said Leo Europe 3 (LE-03) is slated to launch on June 17 from Europe’s Spaceport in Kourou, French Guiana. It added that the mission marks 100 satellites launched by Arianespace, noting that three missions were completed in less than five months.

Based on 71 analyst ratings compiled by CNN, 96% assigned a Buy rating to Amazon, while 4% assigned a Hold rating. The stock has a median price target of $320, a 30.07% upside from the current price of $246.03.

Amazon.com, Inc. (NASDAQ:AMZN) is a global technology company operating through multiple interconnected business units. While well-known as an online retailer, it is also a major player in cloud computing, digital streaming, and artificial intelligence.

While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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