Amazon Stock Gains on Phillip Securities Upgrade and AWS Growth Outlook
Amazon shares rose after Phillip Securities upgraded the stock to Buy and raised its price target to $330, citing strong AWS performance.
Amazon shares rose after Phillip Securities upgraded the stock to Buy and raised its price target to $330, citing strong AWS performance. This is an original TLT brief synthesising 2 outlets (The Crypto Basic, TronWeekly), plus live market data, as of Mon, 02 Nov 2026 15:15:02 UTC.
The upgrade reflects growing confidence in Amazon's cloud computing division, which is crucial for the company's long-term growth strategy and market position.
- Amazon stock rose 1% to $242.79 in premarket trading.
- Phillip Securities upgraded Amazon to Buy from Accumulate.
- AWS revenue grew 39.3% YoY to $46 billion in Q3.
- Analyst Helena Wang raised the price target to $330 from $320.
The Crypto Basic and CoinCodex both report that Amazon's stock rose after Phillip Securities upgraded the stock to Buy and increased its price target to $330. They agree on the AWS revenue growth figure of 39.3% year-over-year, reaching approximately $46 billion in Q3. However, CoinCodex focuses on a separate development involving Rivian's stock, which rose over 3% after UBS upgraded it to Buy with a $17 price target, citing stronger sales, R2 demand, and improving profit margins.
Amazon's stock price increased by 1% to $242.79 in Monday's premarket trading following an upgrade by Phillip Securities. The brokerage firm upgraded the stock from Accumulate to Buy and raised its price target from $320 to $330.
The upgrade was primarily driven by the strong performance of Amazon Web Services (AWS), which reported a 39.3% year-over-year increase in third-quarter revenue, reaching approximately $46 billion. Analyst Helena Wang cited accelerating growth in AWS as a key factor in the decision.
The development comes as multiple outlets report on positive market movements. While The Crypto Basic focuses on Amazon's stock, CoinCodex highlights a separate but concurrent event: Rivian's stock rose over 3% after UBS upgraded it to Buy with a $17 price target, citing stronger sales, R2 demand, and improving profit margins.
The broader market context shows a relatively flat overall market with a total crypto market cap of $2.68 trillion. 
Bitcoin's price remained nearly unchanged in the past 24 hours, with a slight decrease of 0.02%, and the Fear & Greed index stands at 37, indicating a 'Fear' sentiment.
The upgrade and the strong AWS performance could signal positive momentum for Amazon's stock in the near term. Investors will be watching to see if the company can maintain this growth trajectory, particularly in its cloud computing division, which is a critical component of its business model.
Amazon Stock Gains on Phillip Securities Upgrade and AWS Gro — questions & answers
What was the reason for the upgrade by Phillip Securities?
The upgrade was due to accelerating growth in Amazon Web Services (AWS), which reported a 39.3% year-over-year increase in Q3 revenue.
How much did Amazon's stock price increase?
Amazon's stock price rose 1% to $242.79 in premarket trading.
What was the new price target set by Phillip Securities?
Phillip Securities raised its price target for Amazon to $330 from $320.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from The Crypto Basic, TronWeekly, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.