Amazon surges as AWS growth tops forecasts

Amazon shares jumped 13% after a third quarter beat, posting $1.95 EPS on $180.27 billion in revenue versus $1.57 and $177.8 billion expected. AWS revenue hit $33 billion, topping estimates and accelerating 20.2% versus the 18.1% analysts anticipated. CEO Andy Jassy said AWS is growing at a pace not seen since 2022 amid strong AI demand, with custom Trainium chips a highlight. Wall Street turned more bullish, with Goldman Sachs, Barclays, Bank of America, JPMorgan, UBS, Morgan Stanley and Citi lifting price targets up to $320.

Reviewed by JQJO team

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