After further analysis, Oppenheimer concluded that Amazon Web Services are more competitive than previously expected. "Following very bullish checks, we believe AWS's competitive advantages in procuring, designing and architecting datacenters and compute/storage resources are driving even higher profitability and lower capital intensity than previously expected," said Helstein.
Flourishing Industry
Additionally, Helstein was impressed with Amazon's new initiatives, confident that the company can take advantage of a thriving e-commerce market. "We see the eCommerce business continuing to benefit from category expansion, specifically CPG and apparel with initiates such as Echo, at the cusp of providing an even wider moat for the company," stated the Oppenheimer analyst.
At the time of writing, Amazon was trading at $726.67, essentially flat on the day.
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