ADVERTISEMENT
Amazon Cloud Business Seen Reaching $350 Billion Value by 2022
Amazon Cloud Business Seen Reaching $350 Billion Value by 2022
29 Nov 2018, 05:47 AM IST
(Bloomberg) -- Amazon Web Services revenue is expected to reach $71 billion by 2022, giving Amazon.com Inc.’s cloud business a valuation of about $350 billion, Jefferies analyst Brent Thill wrote in a note after attending the company’s cloud conference in Las Vegas.
- Thill, who rates Amazon a buy with a $2,300 price target, says AWS’s lead was evident in the scale of conference attendees, customer adoption and the pace of innovation
- Notes customers who are “jumping in big with AWS” are increasing partner deal sizes by 3.5 times from last year
- Among big commitments to AWS: Korean Air, an Oracle customer, is committing to a 10-year relationship and moving all systems to AWS over the next few years, and Amgen is moving the majority of its cloud infrastructure to AWS
- Notes that AWS is competing well with Oracle and Microsoft
- Amazon shares have gained 35 percent this year while the S&P 500 Info Tech index has risen 3.9 percent
- NOTE: Nov. 27, Amazon Introduces Medical Language Processing Service
- Nov. 27, Amazon Unveils Server Chip, Challenging Intel on Price
- Amazon has 47 buys, 2 holds, 1 sell, average price target $2,140, based on data compiled by Bloomberg
To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net
To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Courtney Dentch
©2018 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT