Analysts project Amazon (NASDAQ: AMZN) stock, currently trading at $251.35 per share (as of Sept. 9, 2026), has the potential to double to $50,000 for 100 shares by 2030. This forecast is based on an anticipated 20% annual earnings growth, driven by strong performance in its higher-margin non-retail businesses, particularly Amazon Web Services (AWS). AWS revenue grew 37% year-over-year in Q2 2026 to $42 billion, with a $496 billion backlog, and CEO Andy Jassy believes it could become a $1 trillion annual business. Custom chips (Trainium and Graviton) are also generating over $25 billion in annualized revenue, further boosting AWS margins.