Tech giant Amazon.com, Inc. (AMZN – Get Rating) continues to remain resilient despite the macroeconomic headwinds of high-interest rates, supply chain challenges, and inflation, thanks to its various efforts to expand its repertoire of services to meet its customers’ changing needs.
AMZN’s CEO, Andy Jassy, said, “There’s a lot to like about how our teams are delivering for customers, particularly amidst an uncertain economy. Our Stores business is continuing to improve the cost to serve in our fulfillment network while increasing the speed with which we get products into the hands of customers (we expect to have our fastest Prime delivery speeds ever in 2023).”
He further added that the company’s Advertising business continues to deliver robust growth, thanks to ongoing machine learning investments that help customers see relevant information while engaging with its products, which in turn delivers unusually strong results for brands.
Due to global interest in cloud services and the disruption they are causing across various sectors, AMZN’s Amazon Web Services (AWS) has played an increasingly important role in the cloud services industry, bringing in a significant amount of revenue for the company.
Although companies are spending more cautiously in this macro environment, AMZN has been aggressively cutting costs to secure its profits and operating income.
AMZN’s stock has fallen marginally over the past month but has gained 53.3% year-to-date to close its last trading session at…
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