Amazon: Still Formidable On Fundamentals

Summary:

  • Undoubtedly, over recent years, AWS has accounted for a dominant fraction of operating profits. However, Amazon.com, Inc. is more than simply AWS.
  • Driven by the scale up of the e-commerce business, growth in ancillary segments is accelerating.
  • Moreover, the firm is investing heavily in potential high growth pipeline ventures.
  • We are increasing our Amazon Price Target to $154/share versus the previous $140/share. Reiterate Buy Rating.

Top view of Amazon Prime electric delivery vans

MikeDot

Undoubtedly, that Amazon.com, Inc.’s (NASDAQ:AMZN) Amazon Web Services (AWS) grew 16%, Google (GOOG, GOOGL) Cloud 28%, and Microsoft (MSFT) Azure 27% during 1Q23, compared to Gartner’s prediction of 22% for 2023, it appears that AWS might


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