Despite big share price moves in recent years, I remain bullish on ‘Magnificent 7’ stocks Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), and Alphabet (NASDAQ: GOOG). In my view, all three of these tech companies have significant growth potential.

Do Wall Street analysts share my bullish sentiment? Let’s take a look at the latest share price forecasts to see where analysts believe these stocks are heading in the medium term.

Amazon

Starting with Amazon, it seems analysts are quite bullish here. Currently, the average price target is $258 – 20% higher than the current share price of $215.

That price target is roughly in line with my own. I’m not expecting the stock to get there overnight, but I can see it happening over the next 12 months or so.

One reason I’m optimistic here is that Amazon is making big moves in the artificial intelligence (AI) space. Its goal is to become a platform for AI solutions in the same way that it offers a platform for online shopping.

I believe that this strategy will help drive growth in its cloud division, AWS. This is now a major part of the business, generating revenue of $30.9bn last quarter.

AI competition from Big Tech rivals is a risk. Worries here actually led to share price weakness after the company’s Q2 earnings.

I’m not overly concerned about this risk, however, as I reckon there’s space for multiple players. I remain optimistic on the outlook and at $215, I believe the stock is worth considering.

Alphabet

Turning to Google and YouTube owner Alphabet, the average price target here is $214. That’s about 13% higher than the current share price of $190.

Personally, I reckon the stock can climb higher than that over the next 12 months. Because right now, it looks cheap. Currently, the forward-looking price-to-earnings (P/E) ratio is only 19. That’s the lowest valuation in the Mag 7.

There is some uncertainty around Google’s search business right now due to the emergence of generative AI applications. So, I can see why some analysts are being cautious.

My own view, however, is that Google, and its suite of products, will remain relevant and continue to drive growth for the company. So, I believe the stock is worth considering today.

Nvidia

Finally, zooming in on Nvidia, the average price target here is $185. That’s about 6% above the current share price of $174.

I see that target as a little low if I’m honest. I’m personally looking for around $210 here in the next 12 months.

That’s based on anFY28 (the financial year starting February 2027) earnings per share forecast of $7.10 and a forward-looking P/E ratio of 30. Multiply $7.10 by 30 and we get $213.

Of course, my projections are based on the assumption that tech companies continue to buy Nvidia’s AI chips. And they may not.

And the thing with Nvidia is that it could easily crash 30% before hitting $210. This stock is very volatile.

Taking a medium to long-term view, however, I’m bullish. I continue to believe it’s worth considering on pullbacks.