AMZN Stock – Amazon (AMZN) AWS Client Base Strengthens With Thomson Reuters
Amazon’s AMZN strengthening efforts toward expanding its cloud services portfolio are continuously driving its customer momentum.
The latest large scale migration to the company’s cloud computing platform Amazon Web Services (“AWS”) by Thomson Reuters testifies to the aforesaid fact.
Notably, Thomson Reuters, which is leveraging robust analytics, database, containers, serverless, storage, machine learning (“ML”) and security services of AWS, completed the shifting of its several servers and revenue-generating applications to AWS in order to support its digital transformation strategy.
For this migration, AWS Professional Services, AWS Managed Services and AWS Marketplace have been used. Further, the client is leveraging Amazon SageMaker to deploy ML in its internal platform.
Notably, the latest migration by Thomson Reuters highlights the efficiency and reliability of AWS’s innovative cloud products and services.
Strengthening Customer Base
The recent move by Thomson Reuters adds strength to the customer base of AWS further.
Apart from this, Metro Goldwyn Mayer (“MGM”) entered a multi-year agreement with AWS. As part of the latest collaboration, MGM is shifting library and critical SAP workloads to AWS to make advancements in its core media supply chain and enterprise-wide media distribution platform.
Further, ViacomCBS recently extended its agreement with AWS in a bid to shift operations for its entire broadcast footprint to the latter’s cloud platform. Moreover, ViacomCBSselected AWS as its preferred cloud provider for its global broadcast media operations.
Additionally, Boom Supersonic, which is gearing up to bring back supersonic flights to the skies, has gone all-in on AWS.
MercadoLibre, an e-commerce dominant in Latin America, also recently selected AWS as its primary cloud provider.
Further, AWS got selected by Zalando as the official cloud provider. Zalando will leverage AWS’s ML services, analytics, compute, database, networking, serverless, storage and other services in order to enhance the shopping experience.
Further, AWS was selected by Standard Chartered Bank. Moreover, the latter signed a five-year agreement to leverage AWS’sreliable infrastructure and cloud services across its entire business in a bid to digitalize its operations and deliver personalized banking services across its 60 markets worldwide.
Notably, clientele expansion will help Amazon in maintaining the dominant position in the cloud market, wherein competition is intensifying with the growing endeavors of peers like Microsoft (MSFT), Alphabet’s GOOGL Google and Alibaba (BA)(BA).
Amazon.com, Inc. price and Consensus
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Portfolio Strength: Key Catalyst
We believe AWS is expected to continue witnessing growth in its clientele on the heels of its focus on enhancing service offerings.
The company recently rolled out a cloud-based healthcare service called Amazon HealthLake.
Further, it unveiled Amazon DevOps Guru, which improves application availability by using ML services.
Further, AWS recently made Amazon Managed Workflows for Apache Airflow (“MWAA”) generally available. Notably, the service offers availability, security and improved scalability to customers, while managing their workflows using Apache Airflow.
Furthermore, the company announced the general availability of AWS Network Firewall, which is a new service, well-equipped to protect against common network threats such as intrusion prevention and detection, dynamic packet filtering, and web filtering.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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