Amazon opened strong in 2024 with its Q4 earnings pushing the stock up. Analysts are watching this tech behemoth for many reasons but primarily due to its ability to consistently innovate its huge online retail business while making strides in the cloud computing world.
Facing competition from online sales of Walmart and Target, Amazon is capped at 1.8 trillion USD.
Q1 earnings rose 13% YoY to 43 billion USD
Surpassed Wall Street forecasts by 750 million USD
Operating income in the NA (North America) segment rose 455% to 5 billion USD
Online retail sales still account for more than 80 percent of its revenue
AWS’s revenue rose by 17% YoY with advertising sales up by 24%
AWS currently holds a 31 percent share in the cloud computing segment with its client list including big names like Meta, Netflix, and Sony. Q1’s reports suggested that AWS accounted for 61% of Amazon’s op income.
Amazon’s P/S ratio is one of the lowest among competitors making it one of the best stocks on the market