Amazon.com, Inc. (AMZN) poised for strong earnings growth over the next 5 years, despite concerns about Agentic Commerce risks and potential impact on non-Amazon e-commerce ecosystems.

Amazon.com, Inc. (AMZN) has strong earnings growth potential over the next 5 years, according to Raymond James, which cut its price target to $260 but maintained an 'Outperform' rating. The firm is confident in AWS cloud division, highlighting untapped potential in modern robotics and anticipating higher estimates for AWS performance. However, Raymond James raised concerns about "Agentic Commerce risks" that could position Amazon.com as a "tweener" in the firm's AI Stack framework.