Amazon.com Inc. (AMZN) is testing something that sounds almost absurdly fast: 30-minute delivery through a new service called Amazon Now. The pilot is live in select areas of Seattle and Philadelphia, and if it works, it could fundamentally shift how people think about quick shopping trips.

According to BofA Securities analyst Justin Post, who maintains a Buy rating and $303 price target on the stock, this isn't just about speed for speed's sake. Amazon Now focuses on groceries and everyday essentials—the stuff you'd normally run to the corner store for when you realize you're out of milk or need something for dinner.

Post thinks the service will complement Amazon's same-day grocery delivery by handling those very small basket, high-urgency purchases. The real opportunity? Capturing sales that would normally happen in physical stores because people need something right now. "We believe Amazon can continue driving important customer frequency benefits and a lock-in effect not possible with other verticals," Post wrote in his note.

While Amazon Now is still in early testing phases, it represents an important strategic move. If Amazon can reliably deliver in 30 minutes, it starts competing directly with the convenience of just walking into a store—potentially pulling more shopping online that previously had to happen in person.

Stock Performance: Amazon shares traded up 0.41% at $234.83 at Tuesday's publication time. With a market cap of $2.51 trillion, the company operates in the consumer discretionary sector with a P/E ratio of 33.03, reflecting strong growth expectations compared to traditional retail. The stock is trading near the upper end of its 52-week range of $161.38 to $258.60, showing investor confidence in the company's evolving e-commerce and cloud services strategy.