Andy Jassy, the CEO of Amazon, discussed the success of Amazon Web Services (AWS) during the company’s first-quarter earnings call. AWS posted quarterly revenue of $25 billion, surpassing Wall Street estimates. Jassy highlighted the continued growth of AWS and the company’s plans to invest over $100 billion in data centers over the next decade, prioritizing cloud computing and artificial intelligence infrastructure. Analysts, including Stephen Guilfoyle, have been closely monitoring Amazon’s stock performance, with mixed opinions on the future outlook for Jassy as CEO. Several highly-rated analysts, such as Brian White, Joe Feldman, and Ken Gawrelski, reiterated their buy ratings on Amazon stock, with varying price targets. Matt Garman recently succeeded Adam Selipsky as the CEO of AWS, leading to expectations of continued growth and improvement for Amazon. James Lee of Mizuho Securities rated Amazon as Outperform, citing an accelerated sales cycle for AWS and a shift in cloud spending towards infrastructure and AI projects. Guilfoyle’s analysis indicates potential advantages for competitors like Microsoft, Alphabet, and Oracle in the evolving AI market. Overall, analysts remain optimistic about Amazon’s future prospects, with expectations for sustained growth and innovation in the cloud computing sector.
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