Amazon's stock has rebounded from a drop in August, with expectations that it could rise to a $3 trillion valuation within the next six to 12 months, driven by growth in Amazon Web Services.
Despite a significant drop in stock price after missing second-quarter sales and earnings targets, Wall Street seems to have regained confidence in Amazon, powerfully reflecting the company's resilience in the market.
Amazon Web Services continues to be the profit center for the company, outpacing its e-commerce operations and bolstering overall growth, especially with the surge in AI spending.
While Amazon faces more competition from the likes of Microsoft's Azure and Alphabet's Google Cloud, it still leads the cloud space and is on track to surpass the next valuation milestone.
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