Premarket Movers: Amazon is Gaining Momentum

Shares of Amazon (NASDAQ: AMZN | AMZN Price Prediction) are up about $3.55 in premarket.

All on news OpenAI is in talks with the e-commerce giant about an investment that could exceed $10 billion. It could also include an agreement to use Amazon AI chips, too. This comes not long after OpenAI outlined the details of its relationship with Microsoft. According to CNBC, that relationship will also allow it to raise capital and partner with other AI companies.

In addition, Amazon ran higher on news that it will invest $35 billion across India through 2030. By 2030, the investment is expected to quadruple exports to $80 billion.

Technically, shares of Amazon just found support at $222.56, with overextensions on RSI, MACD, and Williams’ %R. From its last traded price of $222.56, we’d like to see the stock initially break through its 50-day moving average at around $229.25 a share.

Helping, Oppenheimer raised its price target for AMZN from $290 to $305, noting that Amazon Web Services (AWS) could double its capacity through 2027, and serve as a key stock catalyst.

Oracle

Severely oversold shares of Oracle (NYSE: ORCL) are showing big signs of life, too.

At the moment, it’s up about $2.35 a share in premarket.

After gapping lower on AI data center spending fears, the tech giant appears to have caught strong support at $188.65. It’s also overextended on RSI, MACD, and Williams’ %R. From here, we’d like to see ORCL initially refill its bearish gap at around $220 a share. Longer-term, we’d like to see ORCL retest $260 a share.

Fueling upside, Mizuho analysts say ORCL is among its top enterprise stocks for 2026. The firm says 2025 was a “transformative” year for the company, as it went from “an emerging cloud vendor into a key AI infrastructure player,” as quoted by Seeking Alpha.

“We see Oracle as a [long-term] AI beneficiary given its end-to-end stack, including apps, its industry-leading database for mission-critical workloads, and OCI for AI training and inference,” they added. The firm also has an outperform rating on the stock with a price target of $400.

Micron 

Shares of Micron (NASDAQ:  MU) are up about $4.40 a share in premarket.

The company, which is expected to post earnings after the bell tonight, also received a buy rating from analysts at Needham. In fact, Needham analysts just reiterated a buy on MU with a price target of $300 a share. Meanwhile, Wells Fargo believes MU will benefit from the dynamic random-access market (DRAM), which is expected to grow by about 100%.

Fueling upside, TrendForce just increased its 2025 and 2026 DRAM industry estimates, according to Wells Fargo. They now expect to see 2025 DRAM revenues of $165.7 billion, or 73% year-over-year growth. They also expect to see 2026 DRAM revenues of $333.5 billion, or 101% year-over-year growth.

Technically, MU is challenging its 50-day moving average, which has served as support for the stock since September. From its last traded price of $232.51, we’d like to see MU retest its prior high of about $265 a share.