Amazon.com (AMZN, Buy, raising target to $245 from $235) AMZN 1Q24 Model Update
Our target rises from $235 to $245 owing to higher margin estimates and increased conviction in operating leverage, partially offset by slightly lower revenue estimates.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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