MKM Partners Reiterates Buy Rating on Amazon.com (AMZN) Following Day One at AWS Re:Invent Conference
MKM Partners analyst Rohit Kulkami reiterated a Buy rating and $2,250.00 price target on Amazon.com (NASDAQ: AMZN) as the company kicks off its annual AWS Re:Invent conference in Las Vegas. Over the past 72 hours, Amazon has posted more than 40 blogs, likely corresponding to at least 50 product and partnership announcements. Despite investor worries about ongoing top-line deceleration, Kulkami believes all's well at AWS.
At the conference, AWS announced a partnership with Verizon to help bring AWS compute on mobile devices on Verizon's 5G network. Verizon's CEO emphatically mentioned that the partnership is a “historic milestone” in the world of mobility and IOT.
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Shares of Amazon.com closed at $1779.00 yesterday.