# Amazon Stock Could Climb Higher as AWS Becomes an Even Bigger Growth Engine

> Amazon stock targets $378 as AWS growth accelerates.
- Title: Amazon Stock Could Climb Higher as AWS Becomes an Even Bigger…
- Summary: Amazon stock targets $378 as AWS growth accelerates. Amazon stock could rise to $378 if AWS continues growing at 37% annually.
- Keywords: amazon, aws, stock, price target, cloud computing, capital spending, free cash flow, Climb, Higher, Becomes, Even, Bigger
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/10/21/amazon-stock-could-climb-higher-as-aws-becomes-an-even-bigger-growth-engine
- Author: Vandita Jadeja
- Published: 2026-10-21T16:00:12+00:00
- Read time: 1 min
- Topics: amazon, aws, stock, price target, cloud computing, capital spending, free cash flow
## AWS Growth Accelerates
AWS revenue grew 37% last quarter, the fastest rate in 18 quarters.

> Revenue there grew 37% last quarter, the fastest rate in 18 quarters
## Amazon Stock Price Target
24/7 Wall St. price target for Amazon is $329.06, 31.62% above current price.

> The 24/7 Wall St. price target for Amazon ( NASDAQ:AMZN | AMZN Price Prediction ) is $329.06
## Capital Spending Plan
Amazon plans $200 billion of capital spending in 2026.

> Amazon plans about $200 billion of capital spending in 2026
## Free Cash Flow Concerns
Trailing free cash flow turned negative at -$7.6 billion.

> trailing free cash flow has turned negative at -$7.6 billion
## AWS Revenue Backlog
AWS backlog reached $496 billion.

> the backlog reached $496 billion
## Analyst Ratings
16 analysts rate AWS Strong Buy, 43 give it a Buy.

> Analysts agree: 16 rate it Strong Buy, 43 give it a Buy and none call it a Sell
## Price Target Projection
Amazon stock could reach $378.24 if AWS growth continues.

> Our bull case reaches $378.24
## Key takeaway

Amazon stock could rise to $378 if AWS continues growing at 37% annually.