AMZN - AMAZON “BEST POSITIONED” AS AI SPENDING SURGES — PIPER SANDLER Piper Sandler reiterated Overweight on Amazon with a $320 price target, calling it best positioned among major tech peers. The firm expects Amazon’s 2026 ROIC around 14%, relatively consistent with its historical average of roughly 17%. Piper says Amazon’s spending remains focused on AWS and measurable returns, while Meta and Google face sharper ROIC declines as they invest heavily in frontier AI models and infrastructure.(*Walter Bloomberg)