In July 2021, Amazon (AMZN -0.88%) Founder Jeff Bezos officially stepped out of an active leadership role and handed over the CEO job to Andy Jassy.
Jassy, who previously ran Amazon Web Services (AWS), recently published his first shareholder letter since taking office. Unsurprisingly, it included several nods to AWS’ growth and its position in the cloud computing landscape. Although the company faces competition from other big tech executives like its FAANG cohorts, Apple and alphabetAmazon appears well positioned for long-term growth.
Increasing demand in the cloud
IT departments are responsible for deploying critical business protocols related to cybersecurity, network connectivity, monitoring of company-owned devices, and more. In the last decade, the better-known companies have adopted a cloud-first strategy, migrating their digital services from on-premises networks to cloud-native solutions. However, the COVID-19 pandemic has accelerated this trend, …