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“We see AWS’ full AI tech stack, open source integration, and (importantly) 10+ year focus on industry-specific innovation positioning it well to drive forward AI-based public cloud adoption,” said the analysts.
The analysts said that although the pace of AI innovation and interest remains rapid, “AWS continues to be viewed as being disadvantaged by investors.”
“Some tech leaders – including, based on our investor conversations, AWS – are still viewed as being “behind” or structurally challenged,” they added.
“We believe 1) large, unique data sets, 2) distribution in and out of the data, and 3) ability/willingness to invest in data/distribution remain key to building long-term competitive moats through the changes in AI.”
The analysts, who have an Overweight rating and a $150 price target on Amazon, said the firm remains bullish on the tech giant’s stock.
