Amazon.com, Inc. (NASDAQ:AMZN) is included in our list of the best AI data center stocks to buy now.

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On January 28, 2026, KeyBanc analyst Justin Patterson reaffirmed his Overweight rating and increased his price target for Amazon.com, Inc. (NASDAQ:AMZN) from $303 to $308. The firm’s bullish stance reflects improvements in the company’s revenue and EPS projections for 2026 and 2027.

According to KeyBanc, market projections continue to overestimate possible risks from agentic commerce and advertising-related pressures. Furthermore, the firm says projections are underestimating the rate of AWS re-acceleration in 2026. While investors continue to reassess the durability of Amazon’s cloud and consumer ecosystems, the analyst pointed toward growing momentum in the grocery market. Accordingly, the firm includes Amazon as its top large-cap idea across the Internet and Retail sector.

Moreover, on January 28, 2026, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) announced 16,000 corporate layoffs. This move is part of the company’s plan to cut roughly 30,000 posts (10% of its corporate workforce) since October. Management presented the layoffs as part of an attempt to increase ownership and decrease bureaucracy, reinforcing its broader push toward efficiency and automation.

Amazon.com, Inc. (NASDAQ:AMZN) focuses on operating global e-commerce and cloud platforms that include online retail, advertising, subscriptions, and Amazon Web Services.

While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.