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Amazon Profits to Offer Another Cloud-Based Temperature Control, AI

Umito October 31, 2024

Amazon’s earnings report on Thursday afternoon will give investors another look at the pace of growth in the cloud sector, after Alphabet and Microsoft provided mixed comments.

Alphabet has impressed with its growth in the cloud, which has been well above expectations. But Microsoft disappointed investors as it forecast a cloud slowdown in the current quarter as management cited supply constraints.

As for Amazon, Deutsche Bank analyst Lee Horowitz expects an acceleration in AWS cloud revenue that could beat estimates. Revenue from that part of the business could reach at least $200 million ahead of consensus for the third quarter, he wrote.