Amazon.com (AMZN, Buy, raising target to $235 from $224) AWS Gen AI revenues, Prime ads, and other Thoughts Ahead of the Print
What’s New: We review the setup for the stock and key controversies, including:1. Revenue growth at AWS and the impact of egress fee elimination and gen AI revenues
2. Progress on retail margins and expected future path, including International
3. Potential new disclosures or capital allocation changes, including capex
4. Cost-cutting across the organization and AMZN’s philosophy of experimentation
We also review what to listen for on the earnings call, our top questions for management, and potential positive & negative catalysts for AMZN.
Amazon.com serves consumers through its online and physical stores. The company also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, and Ring, and the company develops and produces media content. The company operates customer service centers and provides programs that enable sellers to grow their businesses, sell their products in its stores, and fulfill orders through the company The company serves developers and enterprises of various sizes, including start-ups, government agencies, and academic institutions, through its Amazon Web Services segment, which provides a set of global compute, storage, database, and other service offerings. The company also provides services, such as advertising.
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