tl;dr
Amazon Web Services (NASDAQ: AMZN) is undergoing a leadership transition with new CEO Matt Garman replacing Adam Selipsky. Citi Research believes the transition will be smooth, given the reaccelerating revenue, normalizing optimizations, and expanding demand for workload migrations and GenAI-based w...
Amazon Web Services (NASDAQ: AMZN) is undergoing a leadership transition with new CEO Matt Garman replacing Adam Selipsky. Citi Research believes the transition will be smooth, given the reaccelerating revenue, normalizing optimizations, and expanding demand for workload migrations and GenAI-based work. Citi reiterated its Buy rating on Amazon with a price target of $245. Citi projects AWS's year-over-year revenue growth of 17.3% in 2024 to reach $106.5B. Amazon's investments in live sports and premium content, including partnerships with Thursday Night Football, WNBA, National Women's Soccer League, NASCAR, MLB, and boxing, as well as original content like season two of LOTR: The Rings of Power, are expected to be beneficial. The first season of LOTR attracted over 100M viewers. Citi expects Amazon Ads revenue to grow 20% year over year, reaching $56B in 2024. Amazon has a Buy rating from Seeking Alpha analysts and a Strong Buy rating from Wall Street Analysts. However, Seeking Alpha's Quant system, which consistently outperforms the market, rates it as a Hold.
More about Amazon.com Inc
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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: 1,935,523,578,000
P/E Ratio: 52.1
Dividend Yield: None
EPS: 3.57
Shares Outstanding: 590,739,997,000
Current Price: $226.66
52-Week High: $2.167
52-Week Low: $0.125
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