From Nasdaq: 2024-07-09 09:47:00

Amazon’s AMZN shares have increased by 31.2% on a year-to-date basis, outperforming the Zacks Internet Commerce industry. The company’s cloud computing arm, Amazon Web Services (“AWS”), is thriving globally. AWS recently partnered with the Australia government to build ‘Top Secret’ AWS Cloud for defense and intelligence agencies, with an investment of $1.3 billion over the next decade.

AWS is expanding its presence in the Asia Pacific (APAC) region, expecting a CAGR of 15.1% between 2023 and 2030. Amazon plans to launch infrastructure regions in Taiwan, Saudi Arabia, Malaysia, Japan, Thailand, New Zealand, and Israel. This expansion will enhance AWS’s performance and drive Amazon’s overall growth in the long run.

Amazon’s aggressive expansion efforts in APAC will help maintain its competitive edge. The company’s peers like Microsoft, Alphabet, and Alibaba are also making significant strides in the region. Microsoft Azure is planning to open data centers in various APAC countries, while Google and Alibaba are investing heavily in expanding their cloud presence.

Amazon’s deep focus on AI, grocery, pharmacy, healthcare, and autonomous driving, along with its expanding global presence in AWS, are expected to bolster its long-term prospects. With a Value Score of B, Amazon remains an attractive choice for investors. Zacks experts have identified Amazon as a top stock pick with the potential to double in value, given its strong growth trajectory and market position.



Read more at Nasdaq: Amazon (AMZN) Expands in APAC With AWS-Australia Partnership