BMO Capital reiterates a Buy rating on Amazon shares, citing a continued bullish AI outlook

, Inc. shares received another analyst endorsement this week after BMO Capital reiterated a Buy rating on the stock, according to a report published by Yahoo Finance on June 25.

The note, attributed to analyst Brian Pitz, reiterated the Buy rating in the context of an “AI stock” thesis. The Yahoo Finance write-up described Amazon as one of the most promising AI stocks to consider over the next two years, and it said the rating was reiterated on June 18.

While the report characterizes the investment case as tied to artificial intelligence, it does not, in the information provided here, spell out what changed in Amazon’s fundamentals since the prior rating action. It also does not provide specific new guidance, new product commitments, or updated financial targets in the excerpted coverage.

BMO’s rating reiteration is significant for investors less because it changes Amazon’s corporate agenda and more because it indicates continued conviction from a major sell-side firm. Ratings can influence near-term sentiment, especially when they are framed around a widely discussed theme such as AI demand.

Amazon, broadly, sits in the middle of multiple AI-related demand channels, including the cloud infrastructure used by developers and enterprises and the broader application layer that companies and consumers rely on. The market has increasingly treated AI compute and data services as a durable spending category, which is why analysts frequently pair AI language with cloud-centric businesses.

That said, analyst notes are not corporate disclosures. In this case, the Yahoo Finance post does not include details about what, specifically, BMO expects Amazon to deliver operationally, such as timelines for incremental AI workloads, specific performance metrics, or quantifiable revenue contribution forecasts tied to AI.

Investors are therefore left with a high-level directional view rather than incremental evidence. The rating reiteration suggests that BMO is still comfortable with Amazon’s path, but the excerpt provided does not include the underwriting numbers or the assumptions that support the “next two years” framing.

Looking ahead, the key question for the stock will be whether Amazon’s upcoming disclosures, such as quarterly results and business updates, provide additional clarity that aligns with the bullish AI narrative described in the analyst note. Investors will likely watch whether management commentary and reported performance reinforce expectations for AI-driven growth across its major segments.