After an excellent 2020, last year was a disappointing year for Amazon (AMZN) Floor. The 5% returns on the stocks pale in comparison to the profits of the major indices and sit uncomfortably next to the displays of most other mega-caps.
However, Monness’ s Brian White believes the company’s fortunes “will change in 2022”.
“In our opinion,” said the 5-star analyst, “Amazon is uniquely positioned to overcome this crisis as one of the greatest beneficiaries of the accelerated digital transformation.”
And it is the role that Amazon Web Services (AWS) has to play in this “digital transformation” that excites White. Earlier this month, the company closed its AWS re: Invent event which announced several “new innovations”.
This included AWS Mainframe Modernization, a service that gives customers a “faster, easier” way to migrate mainframe and legacy workloads to the cloud. “This new service can tempt sacred mainframe workloads to move away …