Amazon Shares Jump 2.5% as Prime Day Sales Forecast Tops $26.3 Billion
AMZN•Amazon shares rose 2.48% on the second day of its June 23–26 Prime Day, projected to generate $26.3 billion in online sales, with Alexa for Shopping boosting conversion rates. A Buy rating and $355 target was reiterated after Q1 revenue grew 17% to $181.5 billion and AWS revenue climbed 28%.
1. Prime Day Sales Performance
Amazon shares rose 2.48% intraday on the second day of its June 23–26 Prime Day event, which industry forecasts project will generate $26.3 billion in online sales over four days. The strength reflects consumer enthusiasm for deep discounts across Amazon’s product categories.
2. Alexa for Shopping Drives Conversions
Introduced in May 2026, Alexa for Shopping personalizes deal recommendations based on users’ shopping history. Conversion data indicates this feature increased purchases without a corresponding rise in browsing activity, suggesting improved shopping efficiency.
3. Financial Highlights and Analyst Views
In Q1, Amazon reported revenue of $181.5 billion, up 17%, with AWS revenue climbing 28%. An analyst reiterated a Buy rating with a $355 price target, citing momentum in AI initiatives and cloud services as key drivers.
