General Electric (GE), AWS Collaborate to Boost Digitization
General Electric Company’s GE unit, GE Vernova’s Digital business recently entered into a multi-year strategic collaboration agreement with Amazon Web Services (AWS) to help the industrial organizations boost digital transformation by applying cloud-based Proficy software solutions.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Digital business provides software and industrial Internet of things services to industrial companies.
Proficy software is a digital catalog which finds, tests, buys, and deploys other softwares which operate on AWS. Per the deal, GE and AWS are designing a structure to deliver Proficy software solutions in AWS marketplace. The two companies together are working on 10 operations technology software solutions. The softwares, including Proficy Historian for Cloud, Proficy Smart Factory – Cloud OEE and MES, Proficy Operations Hub, and Proficy Manufacturing Data Cloud are already introduced in the AWS platform.
This collaboration will help the industrial companies and utilities to bring down the deployment costs. The software solutions will also improve efficiency, lower waste, and maximize production capability for the manufacturing companies.
General Electric Company Price
General Electric Company price | General Electric Company Quote
General Electric is building a powerful ecosystem to advance digital transformation, expand into new markets, improve its product line and to develop an edge over competitor through strategic partnerships. These collaborations strengthen GE’s industry position and help it to drive revenues.
Zacks Rank & Other Stocks to Consider
General Electric currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Caterpillar Inc. CAT presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 10.3% for 2023. The stock has gained 40.3% in the past year.
A. O. Smith Corp. AOS presently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 10.5%, on average.
In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 17.7% in the past year.
Alamo Group Inc. ALG presently carries a Zacks Rank of 2. ALG’s earnings surprise in the last four quarters was 13%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 1.1%. The stock has gained 27.1% in the past year.
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General Electric Company (GE) : Free Stock Analysis Report
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