Amazon Climbs 2.48% on Prime Day; Bank of America Sees $21.6B GMV
AMZN•Amazon shares climbed 2.48% on June 24 as Prime Day 2026 forecasts $26.3 billion in sales over four days, with Bank of America modeling $21.6 billion in GMV. Analyst Brian Pitz reiterated a Buy rating and $355 price target after Q1 revenue hit $181.5 billion (+17%) and AWS growth reached 28%.
1. Prime Day Day Two Performance
Amazon shares rose 2.48% intraday on June 24, the second day of the four-day Prime Day event running June 23-26. Industry forecasts project $26.3 billion in online sales this year, while Bank of America models $21.6 billion in gross merchandise value for the period.
2. Alexa for Shopping Boost
Introduced in May 2026, Alexa for Shopping personalizes deals based on users’ purchase history and browsing behavior. Conversion data shows increased buying activity with Alexa assistance, indicating higher efficiency in turning engagement into sales.
3. Analyst Ratings and Q1 Results
Brian Pitz reiterated a Buy rating with a $355 price target following Q1 results, which reported $181.5 billion in revenue, up 17%, and AWS revenue growth of 28%. The reaffirmed bullish outlook underscores confidence in Amazon’s mix of retail, AI and cloud services.
