- Goldman Sachs (NYSE:GS) reiterates its Buy rating on Amazon (NASDAQ:AMZN) and raises the price target from $1,300 to $1,450.
- Analyst Heath Terry cites the re:Invent conference that runs through this week and comes with an increasing number of product announcements each year.
- Terry attributes the company’s competitive moat to rapid innovation, developer penetration, and AWS “product breadth.”
- New cloud client: Amazon Web Services signs Time Warner’s Turner unit as a customer.
- Financial terms not disclosed but Turner will migrate “decades of content” and much of its computing operations to Amazon’s cloud platform.
- The new customer can help Amazon keep its top spot in the cloud computing market. AWS held a 32% share in Q3, according to Canalys data. Microsoft’s Azure took a 14% share, and Google (NASDAQ:GOOGL) Cloud had a 6% share.
- Holiday sales: Amazon provides some vague metrics for its device sales between Black Friday and Cyber Monday.
- The Echo Dot and Amazon Fire TV Stick with Alexa were the best-selling products from any manufacturer across all categories on the site.
- Fire TV Sticks sold 2.7x as many units as last year’s holiday weekend.
- Amazon has a lot riding on the holiday quarter this year as last year’s report failed to meet revenue estimates.
- Previously: Amazon Web Services announces VMware Cloud expansion (Nov. 28)
- Previously: Textron (NYSE:TXT): Amazon is a potential customer (Nov. 28)
- Now read: Market Correction Catalyst: When Growth Stops Growing
Original article