Amazon (AMZN) Expands AWS Clientele With FWD Collaboration

24.05.24 19:18 Uhr

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Amazon AMZN is constantly gaining traction among sports clients on the back of its robust cloud services portfolio.This is evident from the latest five-year agreement between Amazon Web Services (“AWS”) and FWD Group Holdings Limited (“FWD”). The agreement is the extension of the latter’s cloud technology collaboration with AWS.This highlights the efficiency and reliability of AWS's innovative cloud products and services.Per the agreement, AWS has become the strategic cloud provider of FWD. In order to support its cloud-first strategy, FWD intends to leverage AWS’s cloud computing capabilities, agility and scalability.Amazon.com, Inc. Price and Consensus  Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. QuoteCustomer Base ExpansionThe latest move of FWD has added strength to AWS’s customer base.AWS’s concerted efforts toward bolstering its service offerings are likely to continue driving its customer momentum.Recently, NinjaTech AI partnered with AWS to launch its next-generation AI agent called Ninja, which has been trained using the latter’s machine learning (ML) chips Trainium and Inferentia2 in order to make them powerful and useful.CrowdStrike CRWD extended its strategic partnership with AWS to accelerate cloud security and AI innovation. Notably, CrowdStrike is using Amazon Bedrock and Amazon SageMaker in order to boost innovation in SIEM transformation, and novel cybersecurity AI use cases. More precisely, CrowdStrike aims to accelerate the development of generative AI capabilities in its Falcon Platform.In addition, Brightcove started using Amazon’s generative AI assistant called Amazon Q Business on AWS internally for real-world use cases applicable to the enterprise, media, and entertainment technology sectors.BlackBerry recently unveiled a generative AI-backed cybersecurity advisor called Cylance Assistant, which leverages Amazon Bedrock to enable organizations to enhance their cyber security operations.Zilch extended its collaboration with AWS to expand the use of the latter’s AI and ML services in order to accelerate sales in the next two years, and improve customer service and lending decisions.We believe that AWS’s expanding customer base will continue to drive its top-line growth. In first-quarter 2024, AWS generated revenues of $25.04 billion (18% of the total sales), which grew 17% year over year.The strengthening performance of AWS, which has become the key catalyst of Amazon, will likely instill investor optimism in the stock in the days ahead.AMZN has gained 20.3% year to date.Competitive ScenarioWe believe that AWS’s growing global clientele, on the back of its expanding portfolio, as well as data centers and cloud regions, will continue to help the Zacks Rank #3 (Hold) company gain a competitive edge against its peers, namely Microsoft MSFT and Alphabet’s GOOGL Google.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Notably, Amazon accounted for 31% of the worldwide cloud provider market in first-quarter 2024, per the latest Canalys data.Microsoft, which accounted for 25% of the market, is riding on solid momentum across its Intelligent Cloud business that reported $26.7 billion in revenues in third-quarter fiscal 2024 (43.2% of the total revenues), up 21% year over year. The business is benefiting from the robust adoption of Azure, driven by strength in Azure AI. Azure and other cloud service revenues grew 31% year over year.Google Cloud is contributing substantial growth to Alphabet's total revenues. Expanding data centers, availability zones and cloud regions are expected to keep boosting the company's cloud position. Alphabet’s Google Cloud acquired 10% of the market and reported revenues of $9.6 billion (11.9% of the total revenues), up 28.4% year over year in first-quarter 2024.Where Will Stocks Go…If Biden Wins? If Trump Wins?The answers may surprise you.Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…1. Medical manufacturer has gained +11,000% in the last 15 years.2. Rental company is absolutely crushing its sector.3. Energy powerhouse plans to grow its already large dividend by 25%.4. Aerospace and defense standout just landed a potentially $80 billion contract.5. Giant Chipmaker is building huge plants in the U.S. Hurry, Download Special Report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report CrowdStrike (CRWD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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18.06.2024Amazon OverweightJP Morgan Chase & Co.
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18.06.2024Amazon OverweightJP Morgan Chase & Co.
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01.05.2024Amazon BuyJefferies & Company Inc.
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26.09.2018Amazon HoldMorningstar
30.07.2018Amazon neutralJMP Securities LLC
13.06.2018Amazon HoldMorningstar
02.05.2018Amazon HoldMorningstar
02.02.2018Amazon neutralJMP Securities LLC
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11.04.2017Whole Foods Market SellStandpoint Research
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14.08.2015Whole Foods Market SellPivotal Research Group
04.02.2009Amazon.com sellStanford Financial Group, Inc.
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