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Amazon.com, Inc.’s (AMZN) Amazon Web Services (AWS) grew 16% in the first quarter of 2023, compared to Gartner’s prediction of 22% for the year. Despite this, AMZN has a variety of growth drivers, such as third party sellers, advertising, third party seller services, and Amazon Prime, which all grew year-over-year. In addition, AMZN has a vibrant pipeline in the form of One Medical, Kuiper, and AI tools. AWS is likely to experience softer growth in the short term, but this will be countered by strong growth associated with the e-commerce business.
