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Buy Amazon Stock, Analyst Says. AWS Is the Company's 'Crown Jewel.'

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HSBC initiated coverage of Amazon with a Buy rating.

The growth opportunities at Amazon Web Services could exceed the upside potential of Amazon.com’s flagship e-commerce business, HSBC Global Research says.

On the company’s third-quarter earnings call in October, Chief Financial Officer Brian Olsavsky said while customer’s efforts to cut back on costs continue to be a headwind for AWS, Amazon has seen sales growth pick back up.

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