Amazon led the big tech rally today—looks like the market is finally recognizing its potential. The catalyst? Morgan Stanley named it a 'Top Pick' and raised its price target to $350, arguing that the market has severely underestimated AWS (Amazon Web Services) growth potential and its monetization capabilities in the AI era. Morgan Stanley predicts AWS will achieve 47% year-over-year growth by 2027, a forecast significantly higher than the general market consensus. AWS accounts for only about 21% of Amazon's revenue but contributes roughly 60% of its operating profit. In Q2, AWS reported $42 billion in revenue and $16.6 billion in operating profit, making it the true profit engine of the company. Three reasons I thought Amazon was worth watching a few days ago: 1) E-commerce business is solid and stable; 2) Cloud computing is undeniably the leader, and with AI commercialization, Q2 already showed signs of re-accelerated growth. AWS is undoubtedly one of the most important platforms for AI business; 3) They’re now actively investing in personal intelligent agents, which is the current market hotspot. The second point aligns perfectly with Morgan Stanley’s recommendation today.