Amazon (AMZN) shares rose 0.85% on Wednesday after the company unveiled a major upgrade to its Proteus warehouse robot at its 'Delivering the Future' event in Dartford, England. The new AI-powered robot can now understand conversational commands, prioritize tasks, and navigate entire warehouse floors autonomously, a significant leap from the previous version that was limited to dock areas in 25 U.S. sites.
Alongside Proteus, Amazon introduced two additional robotic systems: STARK, a tote-handling robot set to expand to 15 European sites by 2027, and Vulcan, the company's first robot with a sense of touch for delicate item handling. The upgraded Proteus is scheduled for European deployment in the first half of 2027.
The event also highlighted Amazon's broader €10 billion ($11.6 billion) investment in its European fulfilment network, which includes plans for over 25 sub-same-day delivery sites across Britain and Germany, and the expansion of Amazon Now ultra-fast essentials service to Manchester and Birmingham. Capital expenditure is projected to exceed $200 billion in 2025, covering AI infrastructure, warehouse automation, and delivery networks.
Wall Street remained firmly bullish. Wolfe Research reiterated an Outperform rating with a $320 price target on May 29, citing the newly launched Amazon Supply Chain Services, which targets a $1.2 trillion addressable market across freight, shipping, distribution, and international parcel delivery. UBS maintained a Buy rating and a $333 target on May 27, projecting AWS revenue of $175.9 billion — a 36% year-over-year jump — thanks to a $350 billion cloud backlog expected by 2026 and beyond. The analyst consensus stands at a Strong Buy with an average price target of $312.52, well above the stock’s opening price of $256.52.
Strong Q1 2026 results underpinned the optimism: EPS of $2.78 smashed the $1.63 consensus, while revenue hit $181.52 billion against a $177.28 billion estimate. Institutional support also grew, with funds like Brighton Jones and Bank Pictet adding to positions; institutions now own 72.2% of AMZN.
Headwinds remain, including an EU cloud procurement review into AWS government contracts, a class-action privacy lawsuit over Ring’s facial recognition, and insider stock sales by two Amazon CEOs under pre-set plans. Still, with only three Hold ratings and zero Sells among 60 analysts, the stock’s upside appears intact.
