Amazon’s recent $US2 billion cloud services contract with the Australian government involves the construction of three data centres aimed at enhancing military intelligence and information sharing within the Five Eyes alliance. The deal with Amazon Web Services (AWS) is expected to bolster Australia’s interoperability with the US, UK, New Zealand, and Canada, providing advanced AI data analysis capabilities.
For Amazon, the AWS segment is a significant revenue driver, bringing in $25 billion in revenue in the first quarter alone, accounting for over 15% of the company’s total revenue. Analysts view Amazon’s stock favorably, with a Strong Buy consensus rating based on 42 unanimous Buys. Over the past year, AMZN stock has seen a more than 50% increase, with an average target price of $221.70 suggesting a 12.2% upside potential from current levels.
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