Amazon is the poster child for online shopping, but its core e-commerce business may still be underappreciated on Wall Street.
Amazon.com Inc. is the poster child for online shopping, but its core e-commerce business is still “underappreciated” on Wall Street — at least according to a Wedbush analyst.
Amazon’s e-commerce business has faced tough comparisons with pandemic-era periods, and the company has also endured some growing pains within its fulfillment operations. But with comparisons easing and fulfillment utilization on the rise, “Amazon’s core business is now well positioned with an industry-leading fulfillment infrastructure delivering 4x as many same-day or next-[day] orders in the U.S. versus 2019,” Devitt wrote.
AWS is “well positioned competitively in our view and we expect sustainable double digit AWS growth in the intermediate term as more workloads shift to the cloud and demand for generative AI creates incremental spending in the coming years,” he continued.
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