Solid thoughts from Josh on $Amazon.com(AMZN)$. This has been a stock that we currently hold and are also looking to add to position. That said, price action has been disappointing (even when factoring out the market downturn). So, the question is ... why has this stock been stuck while other tech stocks went on an upwards run? 1. AWS re-acceleration is the entire story right now. Growth in Amazon Web Services is the inflection point. After multiple quarters of optimization-driven slowdown, this signals enterprise spend is normalizing and AI workloads are beginning to layer in. But: β Azure and Google Cloud are also accelerating β AI demand is highly capex-intensive and margin-dilutive near term So the key question isnβt just growt
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