AWS Q1 Momentum Could Drive Amazon To New All-Time Highs [Seeking Alpha]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: Seeking Alpha
AWS reached a $100 billion sales run rate in 1Q24 and accounted for 62% of Amazon's operating income. Despite a less optimistic outlook for the second quarter, Amazon's operating income growth and potential in AWS suggest room for stock price growth. First quarter results of Amazon ( NASDAQ: AMZN were released on April 30, 2024, and crushed the Street's expectations. The retail giant's outlook for the second quarter was not particularly strong, but Amazon is doing a bang-up job in AWS which is now having a $100 billion sales run-rate and which delivered good results, including 17% YoY sales growth. Amazon's eCommerce business is also showing considerable promise, with sales growing at double digits. I think, even though I was bullish on Amazon, I underestimated how positive Amazon's risk/reward relationship is, and I see a lot of room for the stock to run in 2024, particularly if the company can sustain its AWS operating income momentum. Previous Rating After Amazon present
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- AMZN's page on the SEC website