Amazon stock (NASDAQ: AMZN) opened Wednesday’s trading session at $238. The leading e-commerce giant had a rough patch in June, with prices falling nearly 9%. It shed close to 23 points in 30 days, entering a bearish phase. On the heels of a price decline, Bank of America reiterated its buy rating with a bullish call on AMZN. BofA is confident that the Cloud enterprise firm can surge above the $300 level next.

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What is Bank of America’s Price Target For Amazon Stock (AMZN)?

Bank of America, in a note to clients on Tuesday (June 30, 2026), reiterated its buy call, urging investors to take an entry position at this level. The note also states that buying the dip on Amazon stock could be beneficial. The positive development on AMZN makes the equity a must-watch asset, as it has bigger upside potential.

Justin Post, the senior analyst at Bank of America, wrote that Amazon stock could reach a high of $310. The timeline he gave for the rise is for the next 12 months. Therefore, AMZN could be trading at this level at the same time next year in 2027. That’s an uptick and return on investment (ROI) of approximately 30% from its current price of $238. It would also deliver returns of $72 per share.

The analyst based his price prediction on Amazon announcing a 20% increase for Elastic Compute Cloud (EC2) capacity blocks for machine learning, which will be effective from July 1. He wrote that this move would add between 1% and 2% growth to AWS’s second-half-of-2026 growth. This can further accelerate Amazon stock’s momentum, pushing it beyond the $300 mark next year.

The senior analyst also mentioned the company’s $38 billion OpenAI commitment as another key growth driver for Amazon stock. He also pointed out the firm’s $100 billion Anthropic commitment on AWS as a major boost for the company’s prospects. All of these developments will help the e-commerce giant scale the indices, according to Bank of America’s senior analyst.