Amazon's AI-Driven AWS Growth To Power Outperformance: Analysts
Amazon's AI-Driven AWS Growth To Power Outperformance: Analysts
Consequently, the analyst expects AWS to maintain ~15% revenue growth with low-30% operating margins beyond 2025.Scotiabank analyst Nat Schindler initiated coverage on Amazon.com, Inc. (NASDAQ:AMZN) with a Sector Outperform rating and price target of $245 per share.
Scotiabank分析师Nat Schindler对Amazon.com，Inc.（纳斯达克：AMZN）进行了覆盖，给予板块表现评级，并设定每股245美元的价格目标。
The analyst writes that Amazon benefits from a leadership position across all verticals, especially AWS, where they expect revenue growth to exceed consensus estimates beyond 2025.
分析师写道，亚马逊受益于在所有垂直领域的领先地位，特别是AWS，他们预计营收增长将超过2025年的共识预期。
The analyst says that AWS's AI business, though early, shows strong demand and is poised for significant growth. Its focus on providing flexible, cost-effective AI solutions positions AWS as a key partner for companies leveraging AI.
分析师表示，AWS的人工智能业务虽然刚起步，但需求强劲，并有望实现显著增长。其专注提供灵活、具有成本效益的人工智能解决方案，将AWS定位为那些利用人工智能的公司的重要合作伙伴。
Consequently, the analyst expects AWS to maintain ~15% revenue growth with low-30% operating margins beyond 2025.
因此，该分析师预计AWS将在2025年之后保持约15%的营收增长，低于30%的营运利润率。
In the long term, Schindler expects Amazon's Retail business to grow steadily at 5%-10%, though with lower margins. Growth catalysts like healthcare and grocery services could further boost retail numbers, potentially reaching high single digits.
从长期来看，Schindler预计亚马逊的零售业务将稳步增长5%-10%，尽管利润率较低。像医疗保健和杂货服务这样的增长催化剂可能进一步提振零售业绩，潜在地达到高个位数。
Schindler anticipates an upside in operating income over the next 2-4 years, fueled by macro tailwinds and cost optimizations.
Schindler预期未来2-4年运营收入将有增长空间，受宏观风险和成本优化的推动。
JP Morgan analyst Doug Anmuth says that Amazon remained their top pick.
摩根大通分析师Doug Anmuth表示，亚马逊仍然是他们的首选。
The analyst says that they are encouraged by strong AWS growth and continued operational discipline across the business.
分析师表示，他们对AWS强劲的增长以及业务的持续经营纪律感到鼓舞。
Anmuth projects operating income of $16 billion in Q4 and $70 billion in 2025, with AWS growth of 20%+ expected to be driven by easing optimizations, workload migrations, and AI monetization.
Anmuth预计2024年第四季度的营业收入为160亿美元，到2025年将达到700亿美元，预计AWS增长超过20%，主要受到优化、工作负载迁移和人工智能货币化的推动。
North America's margins should improve with better shipping, inventory, and automation.
北美的利润率应该会因更好的运输、库存和自动化而改善。
The analyst expects free cash flow at $58 billion in 2024 and $72 billion in 2025, with potential capital returns next year.
分析师预计2024年的自由现金流为580亿美元，到2025年将达到720亿美元，并有可能在明年实现资本回报。
The analyst adds that investors expect Q3 net sales of $157 billion—$158.5 billion, AWS growth of 20%- 21%, and operating income of $14 billion—$15 billion+.
分析师补充称，投资者预计第三季度净销售额为1570亿至1585亿美元，AWS增长率为20%至21%，营业收入为140亿至150亿美元以上。
Price Action: AMZN shares are up 1.42% at $189.30 at the last check Friday.
价格走势：亚马逊股价在上周五最后一次查询时上涨1.42%，至189.30美元。
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