When you think of it Amazon (NASDAQ: AMZN)You probably think of the retail store first. The company’s e-commerce operation, with its wide variety of general goods or groceries, probably comes to mind. However, the tech giant’s main profit driver is Amazon Web Services (AWS) – the cloud computing business.
AWS is a world leader in this area. But that doesn’t mean the growth is over. In fact, Amazon CFO Brian Olsavsky made a comment on the latest call for results that is good for Amazon Web Services’ revenue for the months and years to come.
A trend towards outsourcing the technical infrastructure
“During COVID, many companies decided that they no longer wanted to manage their own technology infrastructure. We expect this trend to continue.” – Olsavsky
If Olsavsky’s forecast is correct, it could mean billions in new revenue for AWS. So far, the numbers support his thesis. AWS generates …