Amazon.com Inc. (NASDAQ:AMZN) stock surged over 3% on Monday, hitting $246.70 as investors aggressively rotated back into growth and technology stocks. The rally was fueled by a broader market surge, with the Nasdaq Composite climbing 3.08% and the S&P 500 up 1.93%.
Investor confidence got a massive boost following a peace agreement between the United States and Iran, which significantly eased fears of global energy supply disruptions. As a result, crude oil prices plunged roughly 5% to two-month lows, and Treasury yields dropped to their lowest levels in a month, triggering a major wave of risk appetite across the tech sector, News.Az reports, citing Benzinga.
While Monday’s jump provides a welcome boost, technical data shows Amazon is still technically in a consolidation phase. The stock is currently trading below its 20-day and 50-day simple moving averages, indicating some lingering near-term momentum pressure. However, the long-term outlook remains incredibly healthy. Shares are comfortably above their 100-day and 200-day moving averages, backed by a bullish "golden cross" that formed back in May. Traders are now eyeing a key resistance level near $275—just below Amazon's 52-week high of $278.56—with solid support holding around $226.50.
Looking ahead, Wall Street is highly optimistic about Amazon's next major catalyst: its upcoming earnings report estimated for July 30, 2026. Analysts project earnings per share to climb to $1.82 (up from $1.68 last year) on revenues of $195.94 billion. Wall Street maintaining a strong consensus "Buy" rating on the e-commerce and cloud giant, boasting an average price target of $320.86. Recent major calls include Truist Securities forecasting $320, Wells Fargo targeting $312, and TD Cowen leading the bulls with a $350 price forecast.
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