With 353 hedge fund holders as of Q1 2026, Amazon.com, Inc. (NASDAQ:AMZN) is among the Top 10 Stocks That Members of Congress Own.
On May 29, Amazon.com, Inc. (NASDAQ:AMZN) announced that it would acquire Apple’s 20% stake in Globalstar (GSAT) as part of its $11.6 billion acquisition of the satellite communications company. In a regulatory filing, Amazon stated that its planned investments in constellation expansion and technical enhancements will strengthen the 1.6/2.4 GHz Mobile Satellite Services spectrum relied upon by millions of iPhone users for emergency and connectivity services in areas lacking traditional cellular coverage. The transaction further expands Amazon’s presence in satellite communications and related infrastructure markets.
On the same day, Truist raised its price target on Amazon.com, Inc. (NASDAQ:AMZN) to $320 from $310 while maintaining a Buy rating on the shares. The firm increased its long-term Amazon Web Services revenue forecasts for fiscal 2027 and beyond to better reflect the potential contribution from Amazon’s recently announced $100 billion partnerships with Anthropic and OpenAI. According to the analyst, consensus estimates may be underappreciating both the company’s future capital expenditures and the significant revenue growth that could emerge from its expanding backlog of artificial intelligence-related business opportunities.
Amazon.com, Inc. (NASDAQ:AMZN) was founded in 1994 and is headquartered in Seattle, Washington. It is a multinational technology and e-commerce giant that also provides enterprise cloud computing (AWS), produces digital entertainment, and manufactures consumer electronics.
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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