Amazon’s sales ‘skyrocket’

Amazon’s shares via cloud computing and e-commerce have brought the stock market value above US$700billion.

Its cloud business is the fifth-largest business software provider around the globe, with last year’s sales growing by 43% to US$17.5billion.

The company reported last week that its AWS now constitutes around 10% of the Seattle-based retail giant’s total revenues, leaving Microsoft Corp and other competitors “way behind”.

“AWS is still adding more incremental dollars than all public cloud competitors combined,” Barclays analyst Ross Sandler said to Tribune. 

Investopedia also noted Amazon’s stock reached record high Q4 results last week.

Written by Leah Alger