Amazon (AMZN) shares closed in the green on May 4 after the e-commerce behemoth intensified competition with UPS (UPS) and FedEx (FDX) by launching Amazon Supply Chain Services (ASCS).
AMZN expects this new offering to be the next Amazon Web Services (AWS), which started as an internal tool but evolved into the world’s largest cloud services provider over time.
Including Monday’s gains, Amazon stock is up more than 35% versus its recent low.
What Is Barchart’s Opinion on Amazon Stock?
Despite their explosive rally in recent weeks, Barchart data suggests AMZN shares will rip higher from here as the year unfolds.
The stock is currently trading decisively above its key moving averages (MAs), signaling a strong uptrend that’s unlikely to fade without a meaningful catalyst.
In fact, Barchart currently has a “40% BUY” opinion on Amazon based on 13 distinct technical indicators.
Plus, the multinational has a history of extending gains not just in May but also in June and July — a seasonal pattern that makes it even more attractive to own in the near term.
Balance Sheet Strength Warrants Buying AMZN Shares
Options traders also expect Amazon shares to push further up over the next few months.
According to Barchart, the put-to-call ratio on contract expiring mid-July sits at 0.7x currently, signaling a bullish skew, with the upper price set at $297, indicating potential for another 9% rally from here.
As of writing, AMZN has roughly $87 billion in cash and cash equivalents on its balance sheet, suggesting the company has ample liquidity to keep investing in logistics, AI infrastructure, and fulfillment expansion to drive future growth.
Moreover, Seattle-headquartered Amazon has authorization to repurchase more than $3 billion worth of its stock, which adds another layer of downside protection for shareholders as the giant continues to scale its higher-margin businesses.
How Wall Street Recommends Playing Amazon
Wall Street analysts also remain constructive on AMZN stock for the remainder of 2026.
According to Barchart, the consensus rating on Amazon sits at “Strong Buy” currently, with the mean price target of about $310 indicating potential upside of more than 13% from here.
This article was created with the support of automated content tools from our partners at Sigma.AI. Together, our financial data and AI solutions help us to deliver more informed market headline analysis to readers faster than ever.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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