U.S. Markets open in 4 hrs 58 mins
  • S&P Futures

    +3.75 (+0.09%)
  • Dow Futures

    +14.00 (+0.04%)
  • Nasdaq Futures

    +25.50 (+0.18%)
  • Russell 2000 Futures

    +0.30 (+0.01%)
  • Crude Oil

    +0.74 (+1.17%)
  • Gold

    -1.00 (-0.06%)
  • Silver

    +0.12 (+0.46%)

    +0.0028 (+0.2293%)
  • 10-Yr Bond

    0.0000 (0.00%)
  • Vix

    +1.27 (+7.82%)

    +0.0009 (+0.0616%)

    +0.2750 (+0.2543%)

    -2,556.90 (-4.46%)
  • CMC Crypto 200

    -62.80 (-4.83%)
  • FTSE 100

    -30.62 (-0.44%)
  • Nikkei 225

    -584.99 (-1.97%)

Amazon's (AMZN) AWS Selected by TOUR, Strengthens Clientele

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

Amazon's AMZN robust cloud services portfolio is helping it gain customers.

PGA TOUR— commonly known as TOUR — recently selected Amazon Web Services (“AWS”) as its official cloud provider. This highlights the efficiency and reliability of AWS’s innovative cloud products and services.

Moreover, AWS will serve as TOUR’s Artificial Intelligence (AI) cloud provider, Deep Learning cloud provider, and Machine Learning (ML) cloud provider.

Notably, TOUR strives to process and distribute video footage from each golf tournament quickly by leveraging ML, storage, compute, analytics and database services of AWS.

Further, AWS Media Services will be used by TOUR to deliver video content for televised event coverage and OTT streaming for online viewers fast.

For tagging content with specific player names and sponsor logos, Amazon Rekognition will be used. Also, TOUR will build a data lake,leveraging Amazon Simple Storage Service.

With AWS, TOUR intends to offer fans new ways to engage with its content as well as bring them close to the actions on the course.

Amazon.com, Inc. Revenue (TTM)

Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. Revenue (TTM)

Amazon.com, Inc. revenue-ttm | Amazon.com, Inc. Quote

Strengthening Clientele

The recent move by TOUR adds strength to the customer base of AWS further.

Apart from this, National Hockey League recently partnered with AWS to make the latterits official cloud, AI and ML infrastructure provider.

Further, Twitter selected AWS as its cloud provider for its timelines.

Furthermore, Arm Holdings is shifting a major portion of its electronic design automation workloads to AWS.

Additionally, Thomson Reuters recently completed the shifting of its several servers and revenue-generating applications to AWS in order to support its digital transformation strategy.

Also, Metro Goldwyn Mayer entered a multi-year agreement with AWS. As part of the latest collaboration, MGM is shifting library and critical SAP workloads to AWS to make advancements in its core media supply chain and enterprise-wide media distribution platform.

Additionally, Boom Supersonic, which is gearing up to bring back supersonic flights to the skies, has gone all-in on AWS.

Further, ViacomCBS recently extended its agreement with AWS in a bid to shift operations for its entire broadcast footprint to the latter’s cloud platform.

To Conclude

We believe that AWS will continue witnessing growth in its clientele on the heels of its focus on enhancing service offerings.

Moreover, strengthening the customer base will help Amazon in maintaining the dominant position in the cloud market, wherein competition is intensifying with the growing endeavors of peers like Microsoft MSFT, Alphabet’s GOOGL Google and Alibaba BABA.

Additionally, growing clientele will continue to drive top-line growth of AWS, which has become an integral part of Amazon. In fourth-quarter 2020, AWS generated $12.7 billion in revenues (10% of total revenues), which rose 28% year over year.

Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research