Josh Brown Predicted Amazon.com (AMZN) Will ‘Breakout’ – Was He Right?

We recently published 10 AI Analyst Calls You Should Pay Attention To. MAmazon.com Inc (NASDAQ:AMZN) is one of the stocks analysts were recently talking about.

Josh Brown, CEO of Ritholtz Wealth Management, said in a program on CNBC back in December 2024 that Amazon is a “clear” breakout story. Brown said at the time that Amazon.com Inc (NASDAQ:AMZN) could touch $250.

“Amazon.com Inc (NASDAQ:AMZN) is a clear and present breakout right now. One of the things that I try to do is understand the fundamental story, but it’s important where you get into a stock sometimes. I’ve been in Amazon.com Inc (NASDAQ:AMZN) for a long time, so the question is where do I want to add more. Obviously, in a perfect world you have a genie come out of a bottle and say today is the bottom, but since none of us live in that world, the next best thing is to own it when the market has made up its mind that they want to take a name higher. That’s the idea behind averaging up or down into an actual technical breakout. That’s what I think is happening here. I think the stock could get to $250. That’s really like a $21 stock going to 25 — it’s not that big of a deal. This name has been building a base for a really long time, and I’m going to use this tactical breakout as the trigger to get larger.”

At the time of Brown’s call, Amazon.com Inc (NASDAQ:AMZN) was trading at around $212, while the stock is hovering around $222 as of September 30.

Pershing Square Holdings stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter 2025 investor letter:

“Earlier this year, we initiated a position in Amazon.com, Inc. (NASDAQ:AMZN), a company we have long studied and admired. Amazon operates two of the world’s great, category-defining franchises: its Amazon Web Services (AWS) cloud business and its e-commerce retail operations. Both AWS and the company’s retail operations are supported by decades-long secular growth trends, occupy dominant positions in their respective markets, and have significant long-term opportunities for margin expansion. Moreover, despite operating in different industries, both businesses share the core tenets of Amazon’s ethos: a relentless focus on the customer, leveraging scale to be the lowest-cost provider, and continually reinvesting to improve their value proposition.