Bank of America has revised its price target for Amazon stock, reducing it from $303 to $286. According to NS3.AI, this adjustment follows Amazon's announcement of 16,000 layoffs and the closure of its Fresh grocery stores. The decision reflects concerns over increased expenditures related to artificial intelligence, heightened competition, regulatory challenges, and economic uncertainty. Despite the downgrade, Bank of America still anticipates an 18% potential upside from Amazon's current stock price of $243.