Amazon: UBS Warns AWS Growth May Dip Below 10%

StreetInsider2023-04-12

Amazon shares are roughly 2.2% Tuesday after UBS analyst Karl Keirstead issued a warning that Street expectations for cloud growth remain too high for the first quarter.Amazon, Microsoft (NASDAQ: MSFT...

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blessed_1
2023-04-12
blessed_1
Ok

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The Street expects AWS growth of 15% in Q1, down from the 20% reported for the fourth quarter. Keirstead projects that AWS likely grew 13% in Q1.“This implies the growth rate of industry leader AWS will have gone from 40% in 4Q21 to 13% in 1Q23 in just 5 quarters. We find this a surprising turn of events that far exceeds the pressure we’re witnessing across most other technology sub-sectors. In our view, this is clear evidence of a significant pandemic-fueled cloud demand boost and resulting wasteful spend that is now being eliminated by enterprises and their consulting partners.”Moreover, the analyst warns that “most investors believe that these estimates are too high and that AWS revs growth could hit 8-10% in 2Q23.” For Q2, UBS sees AWS growing at 10%.“The current sell-side analyst consensus estimate is for AWS revenue growth to level out at ~14% in 4Q23 from 15% in 1Q23, presumably on the basis of easier comparisons and/or a 2H23 demand improvement. In our view, most (at least tech/software) investors have little/no confidence in these estimates and are modeling AWS revs growth to dip to 8-10% in 2Q23 and to be ~10% in 4Q23,” the analyst added.Overall, the analyst concludes by saying that the cloud growth is “much worse” than expected and “is unchartered territory for most investors.”","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9942578282,"gmtCreate":1681262644246,"gmtModify":1681262647887,"author":{"id":"4112410321254552","authorId":"4112410321254552","name":"blessed_1","avatar":"https://community-static.tradeup.com/news/71622697830d9517eb67a61917d8a95f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"idStr":"4112410321254552","authorIdStr":"4112410321254552"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9942578282","repostId":2326388489,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":32,"commentSize":1,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2326388489"}