A rise in demand for drones could be a boon for Amprius Technologies stock, according to William Blair. The firm upgraded Amprius stock to outperform from market perform in a Friday note, albeit without a price target. Shares have surged more than 187% so far in 2025. The company develops and manufactures lithium-ion batteries that are used in drones and high-altitude pseudo satellites, or HAPS. Analyst Jed Dorsheimer said the stock will be a beneficiary of the Trump administration's emphasis and focus on drones for defense, as a result of its customers being key players in building the drones. AMPX YTD mountain Amprius Technologies stock in 2025. "This administration has made domestic drone production a strategic goal," the analyst said. President Donald Trump's " Unleashing American Drone Dominance " executive order in June has been a key catalyst for the industry, Dorsheimer said. "The stock has run up significantly from the drone executive order; however, our view is that Amprius is at the beginning of converting evaluations into large purchase orders, supported by the increased focus on drones, and momentum will continue in the shares," Dorsheimer said. The analyst also said Amprius' manufacturing capacity in South Korea and potentially in Europe could be ways to sidestep tariff concerns, especially since the company has a large production network that is reliant on China. "As of now, the performance advantage has outweighed any China related qualms for customers, but Western-friendly regions will eliminate any forward concerns, especially for military customers," the analyst said.
