Amazon(US:AMZN) Ge Long Hui·2025-10-13 08:48Core Viewpoint - Citigroup expects Amazon's Q3 revenue and operating profit to likely exceed market consensus, with predictions of $179.53 billion and $20.176 billion respectively, compared to market forecasts of $177.745 billion and $19.708 billion [1] Group 1: Cloud Services - Amazon Web Services (AWS) revenue growth and infrastructure capacity expansion are highlighted as key focus areas, with expectations for improvement as Project Rainier approaches and demand for generative AI remains strong [1] - Despite competitive concerns in cloud services, Amazon is still viewed as the preferred choice in the network industry due to its retail strength, sustained demand for cloud services, and margin expansion [1] Group 2: Retail Performance - Credit card data indicates a continuous growth in online wallet share, which is seen as positive data for Amazon, with attention on its impact on the agency-based business strategy [1] - The launch of ChatGPT is noted to facilitate instant checkout, further enhancing the retail experience [1] Group 3: Investment Rating - Citigroup reaffirms a "Buy" rating for Amazon with a target price of $270 [1]