Major Wall Street analysts at Bank of America, JPMorgan, and Oppenheimer have identified Palantir Technologies, Amazon, and Lam Research as their top artificial intelligence stock picks for August 2026. According to the firms, these companies remain well-positioned for further gains following strong quarterly results, defying ongoing investor concerns regarding high valuations and the long-term sustainability of AI capital expenditures.
Palantir Commercial AI Growth Drives Bank of America Target
Bank of America analyst Mariana Perez Mora confirmed a Buy rating on Palantir Technologies with a price target of $255 following second-quarter earnings that surpassed consensus expectations. According to Bank of America data, Palantir’s U.S. commercial revenue surged 149% year-over-year, lifting its share of total revenue to nearly 40% compared to roughly 30% during the previous year.
The company expanded its U.S. commercial customer base by 35% to reach 653 clients, while trailing 12-month revenue per customer climbed 76% to 3,5 milioni di dollari. Following these metrics, Palantir raised its full-year guidance and now projects at least 134% growth in U.S. commercial revenue. Mora subsequently raised revenue and earnings estimates for 2026 through 2028, citing higher contract values and deepening client relationships. Mora noted that Palantir’s commercial segment serves as its primary growth engine, propelled by enterprises demanding measurable outcomes from AI implementations. Palantir shares closed near $172 on August 7, leaving the $255 target implying a potential 48% upside.
Amazon Web Services Accelerates on AI Cloud Demand
JPMorgan analyst Doug Anmuth raised Amazon’s price target to $365 from $330 while maintaining an overweight rating and designating the stock as a Best Idea. According to JPMorgan, Amazon Web Services (AWS) delivered a 37% revenue increase in the second quarter, marking its fastest growth rate in 18 quarters. Total company revenue, excluding foreign exchange impacts, rose 20% for its strongest pace in five years.
Anmuth attributed the momentum to expanding AI workloads, steady demand for core cloud infrastructure, and Amazon’s proprietary AI chips. The analyst updated forecasts for 2026 and 2027, arguing that Amazon’s capital expenditures in AI generate compelling returns. A move to $365 would represent a 33% upside from Friday’s closing price of $274.
Lam Research Capitalizes on Semiconductor Equipment Expansion
Oppenheimer analyst Edward Yang maintained a Buy rating on Lam Research with a $400 price target after the semiconductor equipment manufacturer beat fiscal fourth-quarter expectations. According to Oppenheimer, Lam Research experienced increased customer support service revenue alongside a doubling of NAND-related revenue.
Yang projects that 2027 will be a particularly robust year as chipmakers navigate supply constraints while constructing eight to ten new fabrication plants. Based on these projections, Yang increased revenue and earnings estimates for 2027 and 2028 by 7% to 9%. Trading near $311, Lam Research is viewed by Oppenheimer as a direct beneficiary of AI-driven demand across advanced memory, logic, and packaging technologies.
Analyst Outlook and Market Context
While operating across distinct market segments, all three companies capture expanding capital allocation toward artificial intelligence. Palantir monetizes enterprise AI software, Amazon captures cloud demand through AWS, and Lam Research supplies the hardware required to manufacture increasingly complex AI semiconductors.
Analysts Mariana Perez Mora, Doug Anmuth, and Edward Yang hold five-star ratings on TipRanks based on historical performance. Although elevated market valuations present near-term risks, the analysts maintain that continuous software adoption, expanding cloud workloads, and rising semiconductor capital expenditures will provide further runway if current growth trajectories persist.