NBIS' 625% revenue surge reflects its rapid ascent in AI cloud infrastructure, yet AMZN's scale, chip innovation and steady growth reinforce its market edge.
Amazon is upgraded to a 'Buy' as AWS shows strong reacceleration, alleviating previous concerns about slowing growth. AWS posted 20.2% YoY growth, driven by robust AI and infrastructure demand, reinforcing Amazon's dominant cloud position and investor confidence. Despite Azure and Google Cloud growing faster, AWS remains the largest cloud platform, with recent outages highlighting enterprise reliance on its services.
Amazon (AMZN) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Amazon's cloud infrastructure service, Amazon Web Services (AWS), is on track to record its strongest year of growth in three years, fueled by the AI industry's unprecedented demand for computing power.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Revenue in its cloud unit jumped 20.2% in the most recent quarter – beating Wall Street estimates of 18.1%.
Amazon.com Inc (NASDAQ:AMZN) stock is up 10.5% to trade at $245.86 at last glance, reinstating Big Tech faith after the company surpassed third-quarter earnings and revenue estimates.
Amazon.com Inc (NASDAQ:AMZN) shares surged almost 11% to about $246 after a third quarter earnings beat, with analysts at Oppenheimer and Wedbush highlighting Amazon Web Services (AWS) and AI initiatives as key growth drivers. Following the report, Oppenheimer raised its 12 to 18-month price target to $290, maintaining an 'Outperform' rating, citing accelerating AWS revenue growth.
Bezos is the world's third-richest person with a fortune valued at $259.4 billion, according to Forbes' latest estimates. Bezos, who holds 8% equity in Amazon, had his net worth swell by roughly $24 billion (10.2%) as of Friday morning, after a $6.6 billion slide as shares dropped Thursday.
Google, Microsoft, Meta and Amazon all raised their forecasts for capital expenditures in their earnings reports this week. Their announcements show that the hefty spending on artificial intelligence is only increasing.
SPS Commerce reports trouble in its revenue recovery platform, which is used by Amazon third-party sellers.
AMZN's Q3 earnings soar past estimates as AI-fueled growth in AWS, advertising, and retail drives a 13% after-hours stock jump.