tl;dr
Amazon (NASDAQ:AMZN) CEO Andy Jassy wrapped up the company's 2023 results and outlined some of the 2024 goals in a letter to shareholders. Jassy emphasized the commitment to keeping costs in check, stating the intention to lower costs further while delivering faster for customers in the fulfillment ...
Amazon (NASDAQ:AMZN) CEO Andy Jassy wrapped up the company's 2023 results and outlined some of the 2024 goals in a letter to shareholders. Jassy emphasized the commitment to keeping costs in check, stating the intention to lower costs further while delivering faster for customers in the fulfillment network. Generative AI was a major topic of the letter, with Jassy considering it to potentially be the largest technology transformation since the cloud. He highlighted significant traction in AMZN's generative AI products and believes the generative AI boom will be built on AWS, predicting substantial societal and business benefit from these solutions. Jassy also noted the strength of Amazon's advertising business, which grew 24% year-over-year in 2023 to $47B on the strength of sponsored ads. The company's conviction in Prime Video was also reported to be increasing. Amazon's (AMZN) shares dipped 0.17% in premarket trading on Thursday, but the e-commerce stock is up more than 22% on a year-to-date basis.
More about Amazon.com Inc
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: $1.931 trillion
Current Price: $3,689.20
Dividend Yield: 0.64%
P/E Ratio: 2.9
EPS: $55.78
Beta: 0.0529
Shares Outstanding: 574,784,995
Day's Range: $2,09.62 - $2,50.69
52-Week Range: $1,39.00 - $3,773.08
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