Amazon Web Services revenue is expected to reach US$71 billion by 2022, giving Amazon.com Inc.’s cloud business a valuation of about US$350 billion, Jefferies analyst Brent Thill wrote in a note after attending the company’s cloud conference in Las Vegas.

-Thill, who rates Amazon a buy with a US$2,300 price target, says AWS’s lead was evident in the scale of conference attendees, customer adoption and the pace of innovation

-Notes customers who are “jumping in big with AWS” are increasing partner deal sizes by 3.5 times from last year

-Among big commitments to AWS: Korean Air, an Oracle customer, is committing to a 10-year relationship and moving all systems to AWS over the next few years, and Amgen is moving the majority of its cloud infrastructure to AWS

-Notes that AWS is competing well with Oracle and Microsoft

-Amazon shares have gained 35 percent this year while the S&P 500 Info Tech index has risen 3.9 per cent

• NOTE: Nov. 27, Amazon Introduces Medical Language Processing Service
  • Nov. 27, Amazon Unveils Server Chip, Challenging Intel on Price
  • Amazon has 47 buys, 2 holds, 1 sell, average price target $2,140, based on data compiled by Bloomberg

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