Amazon stock (NASDAQ: AMZN) opened Wednesday’s trading bell at $265 and remains on the back foot in May. The e-commerce giant has seen its price stagnate this week with little to no price spurts. Overall, AMZN has had a positive 2026 as prices surged close to 18% year-to-date. Prices rose in April, going from a low of $210 and relatively maintained a positive momentum.

On the heels of the ongoing price stagnation, TD Cowen’s Managing Director and Senior Equity Research Analyst, John Blackledge, reiterated his strong buy rating for Amazon stock. In a revised price prediction on May 12, the analyst predicted that AMZN could reach the $350 target next. That’s an uptick and return on investment (ROI) of approxmately 32% from its current value of $265.

Therefore, an investment of $1,000 could turn into $1,300+ if the price prediction turns out to be accurate. That’s stellar returns, as not every asset is capable of delivering double-digit gains in the market. Amazon stock is among the most sought-after equities and is among the market leaders in the AI segment. The Andy Jassy-led company has invested hundreds of billions of dollars to build its AI infrastructure.

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AI Technology To Give a Big Boost To Amazon Stock

Amazon already has a $225 billion AI backlog that could give its stock prospects a big boost in the charts. The revenues are expected to flow in the next five years, keeping AMZN in a dominant position. It has also committed to invest $33 billion in AI startup Anthropic. The previous investment was $8 billion, but it added an additional $25 billion. It is among the most-watched stocks due to its capex on AI.

While some analysts are worried about the capex, others are confident that Amazon will pull it off. The next-gen technology could go mainstream in the coming decade after it fully stabilizes. Amazon stock would stand to gain the most as its price is now below the $300 level. Taking an entry position in AMZN now and holding it for the next 5 to 10 years could bring in enormous profits.