Key Points
Amazon’s AWS division revenue rose 37% year over year last quarter.
It could reach $1 trillion within the next 10 years.
Shares of the stock look cheap if you have a long-term time horizon.
No company has ever generated $1 trillion in revenue in a calendar year. Andy Jassy, chief executive officer of Amazon(NASDAQ: AMZN), thinks one of its divisions is well on its way to surpassing that figure on its own. Last quarter, Amazon Web Services (AWS) hit $169 billion in annual recurring revenue (ARR) and sales rose an astonishing 37% year-over-year.
Previously, Jassy has said that AWS could reach hundreds of billions of dollars in annual revenue. On the latest Amazon earnings call, he revised this estimate, saying the company now believes annual revenue for this division could eventually surpass $1 trillion. Here’s when it could happen and what it could mean for Amazon stock.
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