tl;dr
Amazon's cloud service, Amazon Web Services, is expected to accelerate this year due to its Bedrock offering and growing demand for artificial intelligence, according to a survey by Mizuho Securities. Mizuho's quarterly AWS customer survey found an increase in executive business center meetings, le...
Amazon's cloud service, Amazon Web Services, is expected to accelerate this year due to its Bedrock offering and growing demand for artificial intelligence, according to a survey by Mizuho Securities. Mizuho's quarterly AWS customer survey found an increase in executive business center meetings, leading to solidified deals within 60 days, compared to the standard 90-day sales cycle. These meetings increased by 20% in the last month among survey respondents. The survey includes input from 300 Fortune 1000 companies and discovered growth in proof of concepts for new use cases with Gen-AI across various industries. Clients intend to spend larger budget shares on infrastructure, with spending increasing to 45% from 35%, driven by AI acceleration. Mizuho reiterated its Buy rating on Amazon and its $230 price target based on the survey results, considering Amazon a "Top Pick." Other analysts also note AWS' success, with Seeking Alpha analyst and contributor Envision Research highlighting AWS’ third-quarter sales increase of 12% from year-ago levels and its leading cloud provider position. Amazon holds a Buy rating from Seeking Alpha Analysts, a Strong Buy rating from Wall Street analysts, and a Hold rating from Seeking Alpha's quant system.
More about Amazon.com Inc
Amazon.com Inc Summary Amazon.com Inc Summary
Amazon.com, Inc. is an American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. The company has been referred to as one of the most influential economic and cultural forces in the world, as well as the world's most valuable brand.
Industry: TRADE & SERVICES
Sector: RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap: $1,922,396,193,000
P/E Ratio: 63.82
Dividend Yield: None
Beta: 2.9
EPS: 55.78
Price/Sales: 0.0529
Shares Outstanding: 574,784,995,000
Current Price: $209.33
52 Week High: $50.69
52 Week Low: $0.139
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