Amazon Overtakes Walmart with $716.9B Revenue as Analysts Slash Targets on $200B Capex
Benchmark cut Amazon’s price target to $275 from $295 and Piper Sandler lowered its target to $260 from $300 after the company unveiled a $200 billion capex plan, $40 billion above expectations, despite AWS posting 24% year-over-year growth. Amazon generated $716.9 billion in annual revenue, surpassing Walmart’s $713.2 billion to become the largest U.S. company by sales.
1. Analyst Price Target Revisions Following Capex Increase
Benchmark reduced its Amazon price target to $275 from $295 after Amazon disclosed a $200 billion capital expenditure plan for the year, which is $40 billion above market expectations. Piper Sandler also cut its target to $260 from $300, highlighting ongoing cost efficiencies and AI investment focus despite AWS growing 24% year-over-year.
2. Revenue Milestone Surpasses Walmart
Amazon reported $716.9 billion in annual revenue, overtaking Walmart’s $713.2 billion and marking its position as the largest U.S. company by sales. This milestone underscores Amazon’s expanding e-commerce and cloud businesses and enhances its market stature.