Wall Street Has Near-Term Concerns Over AWS. Why It’s Still Bullish on Amazon.



Amazon.com


analysts are largely upbeat about the e-commerce company despite concerns over the near-term performance of its cloud-computing business,


Amazon


Web Services.

In a Friday research note, Oppenheimer analyst Jason Helfstein cut his estimate of AWS’s revenue for the fourth quarter of 2022 and all of 2023 by 1% and 3%, respectively, citing the uncertain outlook for the economy. In the third quarter, AWS had sales of $20.5 billion, while the total for the whole company was $127.1 billion.