This article first appeared on GuruFocus.

Amazon (AMZN, Financials) is Evercore ISI’s top large cap internet firm for 2026 due to its cloud computing section and growing business catalysts.

• Warning! GuruFocus has detected 4 Warning Sign with AMZN.

• Is AMZN fairly valued? Test your thesis with our free DCF calculator.

Evercore ISI analyst Mark Mahaney said Amazon Web Services gained 20% year over year in the third quarter, its fastest pace in 11 quarters. AWS beat Microsoft Azure for the first time since Q3 2022, according to the business.

AWS’s AI narrative has strengthened, bolstering investor confidence, said Mahaney. He said cloud unit growth increases Amazon’s earnings forecast.

Beyond AWS, Evercore listed Amazon’s grocery operations, Trainium chips, Project Kuiper’s satellite program, Amazon Pharmacy, better Alexa interaction, Zoox’s robotaxi startup, and renewed Amazon focus as 2026 catalysts.

The business called Amazon a “high-quality compounder,” predicting a 25% annual rise in profits per share, double digit sales growth, higher operational margins, and more free cash flow over the next two years.

Most gurus on Wall Street say to buy Amazon. The quantitative study from Seeking Alpha is careful, which suggests that there are worries about the value.

Shares of Amazon are gained 6% this year, which is less than the U.S. market. Investors may look to profitability and AWS demand to confirm 2026.