Andy Jassy Just Delivered Magnificent News for Amazon Investors – AOL

Key Points

• The Amazon Web Services (AWS) cloud platform offers an expanding portfolio of artificial intelligence (AI) services for enterprises.

• The platform has delivered six-straight quarters of accelerating revenue growth, but Amazon CEO Andy Jassy says even more momentum is ahead.

• Amazon stock looks cheap following its recent 15% correction.

Many artificial intelligence (AI) stocks are in the throes of a sharp correction right now, as investors wrestle with concerns about the sustainability of the data center infrastructure spending boom. As a result, Amazon (NASDAQ: AMZN) stock was down 15% from its August record high as of the market close last Friday.

But the sell-off doesn’t really jibe with the strong set of third-quarter operating results the company reported on Oct. 29, particularly from its Amazon Web Services (AWS) cloud computing platform. While discussing the results on a conference call with investors, Amazon chief executive Andy Jassy offered a series of forecasts…