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.
Amazon shares rose after Phillip Securities upgraded the stock to Buy and raised its price target to $330. This is an original Token Times brief synthesising 2 outlets (The Crypto Basic, TronWeekly), plus live market data, as of Mon, 02 Nov 2026 15:15:01 UTC.
The upgrade reflects growing confidence in Amazon's core business and cloud computing segment, which could influence investor sentiment and market positioning.
- Amazon shares rose 1% to $242.79 in premarket trading.
- Phillip Securities upgraded Amazon from Accumulate to Buy.
- AWS revenue grew 39.3% YoY to $46 billion in Q3.
- Analyst cites accelerating AWS growth as key factor.
Both The Crypto Basic and CoinCodex report that Amazon shares rose following Phillip Securities' upgrade from Accumulate to Buy and the price target increase from $320 to $330. The Crypto Basic specifically highlights the 39.3% year-over-year growth in Amazon Web Services (AWS) revenue, reaching approximately $46 billion in Q3, while CoinCodex focuses on broader market movements and does not mention AWS figures. No outlet contradicts these core facts.
Amazon (NASDAQ: AMZN) shares gained 1% to $242.79 in Monday's premarket trading after Phillip Securities upgraded the stock from Accumulate to Buy and raised its price target from $320 to $330.
The upgrade comes after Amazon's third-quarter earnings report, which showed strong performance in its cloud computing segment, Amazon Web Services (AWS). According to The Crypto Basic, AWS revenue increased by 39.3% year-over-year to approximately $46 billion.
Analyst Helena Wang cited accelerating growth in AWS as a key factor in the upgrade decision. This suggests that the market is increasingly valuing Amazon's cloud computing business as a major driver of future growth.
In related market news, Rivian (RIVN) stock also saw a boost, rising over 3% after UBS upgraded the stock to Buy with a $17 price target, as reported by CoinCodex. The upgrade was based on stronger sales, demand for the R2 model, and improving profit margins.
The broader market remains relatively flat, with the total crypto market cap at $2.68 trillion. 
Bitcoin is down 0.02% in the last 24 hours, and the Fear & Greed Index stands at 37, indicating a 'Fear' sentiment in the market.
Amazon Stock Gains on Phillip Securities Upgrade and AWS Gro — questions & answers
What was the reason for Amazon's stock upgrade?
The upgrade was due to accelerating growth in Amazon Web Services (AWS), with Q3 revenue up 39.3% YoY to $46 billion.
How much did Amazon's stock price increase?
Amazon's stock rose 1% to $242.79 in premarket trading.
What other stock saw a significant increase?
Rivian (RIVN) stock rose over 3% after UBS upgraded it to Buy with a $17 price target.
Which outlets reported this story?
This is an original Token Times 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 Token Times 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.