Goldman Sachs Adds Amazon to Conviction Buy List With $375 Target

Goldman Sachs added Amazon.com Inc. (AMZN) to its conviction list of most-preferred stocks on Thursday, Oct. 1, 2026, setting a 12-month price target of $375, according to MarketWatch. The target implies roughly 50% upside from current levels. Amazon, the fifth-largest U.S. company by market capitalization, already holds buy ratings from 95% of Wall Street analysts. The stock crossed $3 trillion in market value for the first time in August after stronger-than-expected second-quarter results. Amazon Web Services revenue reached $42.2 billion in the second quarter, up 37% year over year — its fastest growth in 18 quarters. Total quarterly revenue hit $200.6 billion, up 20%, the first time Amazon surpassed $200 billion in a single quarter. CEO Andy Jassy said capital expenditures are projected to reach $220 billion this year, up from $200 billion previously forecast, citing rising memory prices tied to AI buildout. Third-quarter guidance: net sales of $197 billion to $202 billion.