The company also drew attention for expanding AI partnerships and potential satellite deal talks, reinforcing its long-term growth strategy.

Wells Fargo analyst Ken Gawrelski maintains an Overweight rating on the stock and raises the price forecast from $304 to $305.

AI Pact With Reply

The agreement focuses heavily on advancing AI deployment using AWS infrastructure, while leveraging Reply's specialized firms to build industry-specific solutions and governance frameworks aligned with evolving regulations.

Amazon Drives Public Sector AI Growth

The multi-year deal focuses on delivering scalable, mission-critical solutions for government agencies.

Key areas include AI-driven analytics, fraud prevention, Zero Trust cybersecurity, and modernizing legacy systems.

The collaboration also aims to enhance citizen services and unlock value from government data through advanced analytics.

Both companies will invest in AI and cloud training to strengthen expertise and support evolving public sector needs.

Amazon Deal Buzz

The potential deal could strengthen Amazon's low-Earth-orbit satellite internet ambitions as it looks to compete with SpaceX, the Financial Times reported.

Technical Analysis

At $209.64, Amazon is trading 0.4% below its 20-day simple moving average (SMA), the stock's average price over the last 20 sessions, which suggests short-term momentum is stalling near a key trend line.

It's also trading 6.8% below its 100-day SMA, indicating the intermediate trend is still tilted lower despite recent stabilization.

The moving average convergence divergence (MACD), a trend/momentum measure, shows the MACD at -2.2454 versus a signal line at -2.4570, a setup that suggests downside pressure is easing even though the trend remains soft.

The "death cross" in March (50-day SMA below the 200-day SMA) keeps the longer-term chart in a cautious posture, since rallies often need time to rebuild after that kind of breakdown.

Amazon is up 6.63% over the past 12 months, which provides longer-term context but remains backward-looking rather than predictive.

Within the $161.38 to $258.60 52-week range, the stock is sitting closer to the middle-lower portion of the band, consistent with a market that's still repairing from the early-year swing low.

• Key Resistance: $220.50 — where recent rebounds have tended to stall.
• Key Support: $202.50 — an area where buyers have recently shown up.

Analyst Consensus & Recent Actions

The stock carries a Buy Rating with an average price target of $287.28. Recent analyst moves include:

• Wells Fargo: Overweight (Raises Target to $305.00) (April 2)
• Tigress Financial: Buy (Raises Target to $315.00) (March 25)
• JP Morgan: Overweight (Raises Target to $280.00) (March 25)

AMZN Price Action: Amazon.com shares were down 0.30% at $209.94 at the time of publication on Thursday, according to Benzinga Pro data.

Image via Shutterstock