Roblox falls 4% in pre-market as Wells Fargo bookings caution reasserts Stock Market News 07-02 22:23
$AMZN - AWS MOMENTUM DRIVES AMAZON PT HIKE Wells Fargo raised Amazon's price target to $313 from $312 while maintaining its Overweight rating. The firm expects AWS growth to accelerate on strong AI demand, expanding compute capacity, and improving pricing power. While Prime Day timing may weigh on near-term revenue, Wells Fargo believes Amazon's cloud leadership and AI investments support stronger earnings and long-term upside. *Walter Bloomberg (@DeItaone) / Twitter 07-02 18:30
$GOOGL - GOOGLE SEARCH & CLOUD STRENGTH OFFSET PT CUT Wells Fargo lowered Alphabet's price target to $416 from $435 but kept its Overweight rating. The firm expects stronger-than-expected Search and Cloud growth, driven by rising user engagement, AI demand, and expanding compute capacity. While higher AI investment trims longer-term forecasts, Wells Fargo believes Google's AI and cloud leadership supports continued earnings growth. *Walter Bloomberg (@DeItaone) / Twitter 07-02 18:29