Oct 27 - Amazon.com rose 7% on Friday on a pick up in 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.
He also touted the AI opportunity for Amazon Web Services , saying that he expected the technology to lead to"tens of billions of dollars in revenue over the next several years". About 26 brokerages raised their price targets on the stock, pushing their median view to $173, according to LSEG data. "Amazon Web Services optimization has stabilized, although growth fell slightly shy of our expectations," Morningstar analyst Dan Romanoff said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market news today: US futures rise as Amazon shines, key inflation data aheadThe update to PCE — the Fed's preferred inflation gauge — will set expectations around whether a rate hike is coming.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Futures rise as Amazon shines, inflation continues coolingThe Federal Reserve's preferred inflation metric showed prices continued to cool in September — a critical data point the Federal Reserve will consider as it...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market news today: Nasdaq, S&P 500 higher as Amazon shines, inflation continues coolingThe Federal Reserve's preferred inflation metric showed prices continued to cool in September — a critical data point the Federal Reserve will consider as it...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Amazon rallies on cloud recovery as it chases Microsoft for AI businessExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »
Amazon rallies on cloud recovery as it chases Microsoft for AI businessInvestors applaud signs growth from its main profit driver
Source: globeandmail - 🏆 5. / 92 Read more »
Amazon rallies on cloud recovery as it chases Microsoft for AI businessAmazon.com rallied nearly 6% on Friday on signs that growth in its main profit driver, the cloud business, was picking up pace after two years of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »