Citron Research has set a massive $300 price target for Amazon.com Inc. (NASDAQ:AMZN), projecting 28% upside from current levels, citing a hidden semiconductor empire that could soon rival the industry leader Nvidia Corp. (NASDAQ:NVDA).
‘Trillion-Dollar’ Threat To Nvidia
Following the release of Amazon CEO Andy Jassy‘s 2025 shareholder letter, Citron Research published a blistering market commentary on the tech giant’s explosive growth in artificial intelligence (AI) hardware.
The renowned research firm declared Amazon “the most serious threat to NVIDIA’s semiconductor dominance ever created.”
According to Citron, Wall Street analysts have completely missed the sheer magnitude of Amazon’s custom silicon efforts. The firm highlighted that Amazon’s proprietary chip division operates at a staggering “$50 billion standalone revenue run rate,” featuring triple-digit growth.
Emphasizing this hidden value, Citron noted, “This is another trillion dollar company hidden inside $AMZN. This does not exist in a single sell side model. Not one.”
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