Amazon rallies on cloud recovery as it chases Microsoft for AI business
-Amazon.com rallied 5% on Friday on strong growth at its most profitable cloud business as it aims for a larger share of the booming artificial intelligence market in a race with Microsoft CEO Andy Jassy said on Thursday the cloud business was stabilizing as large expansions with existing customers and first-time agreements were likely to aid growth in the final three months of the year.
"Tech investors can breathe a sigh of relief, Bernstein analysts said in a client note, adding that"AWS growth sounds ready to re-accelerate even without AI." In the July-September period, Amazon posted its first quarter-on-quarter increase in cloud growth in nearly two years. Amazon trades at 38.49 times its 12-month forward earnings estimates, compared with Microsoft's 27.85 and Alphabet's 18.66.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jefferies analyst says Microsoft can take cloud market share away from AmazonBrent Thill believes that Microsoft has the upper hand in taking cloud market share, which should also help the firm's artificial intelligence story.
Read more »
Apple, Amazon and Microsoft’s bonds shrug off equity weakness as Nasdaq falls into correction territoryBonds issued by the Magnificent Seven group of companies are offering yields in the low to mid-5% range
Read more »
Alphabet Plunges as Cloud Segment Misses: Prelude to Remaining Big Tech Reports?Stocks Analysis by Shane Neagle covering: Microsoft Corporation, Alphabet Inc Class A, Microsoft Corp, Microsoft Corp DRC. Read Shane Neagle's latest article on Investing.com
Read more »
Cloud battles: Microsoft’s sales soar while Google’s Alphabet stumblesInteresting Engineering is a cutting edge, leading community designed for all lovers of engineering, technology and science.
Read more »
Alphabet stock falls 8% on cloud miss as investors praise Microsoft Azure growthGoogle's Cloud revenue miss came in stark contrast to Microsoft's earnings, which showed accelerated growth in its Intelligent Cloud business
Read more »
Amazon: Cloud Takes Center Stage Ahead of Keenly-Anticipated Q3 EarningsStocks Analysis by Investing.com (David Wagner) covering: Amazon.com Inc, Amazon.Com, Amazon.com Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 1784.62 USD AMAZON 31Dec99. Read Investing.com (David Wagner)'s latest article on Investing.com
Read more »