Amazon(US:AMZN) Ge Long Hui A P P·2025-11-03 03:17Core Viewpoint - Goldman Sachs reiterates a "Buy" rating for Amazon, raising the target price from $275 to $290, indicating a positive long-term outlook for the company [1] Group 1: Market Focus - The market focus is expected to shift from Amazon Web Services (AWS) positioning in the AI sector to a more stringent examination of the consumer environment in the coming quarters [1] Group 2: Long-term Growth Potential - Goldman Sachs maintains a constructive view on Amazon's long-term performance, anticipating compound revenue growth and expansion of operating margins over the years [1] - The company is expected to continue investing in long-term growth initiatives [1] Group 3: Competitive Advantages - Amazon is well-positioned to outperform in the future, benefiting from higher sales due to a more efficient logistics network and lower unit service costs in e-commerce [1] - The advertising business is expected to expand continuously at a high-profit scale [1] - AWS is anticipated to benefit from structural changes in enterprise customer demand, with generative AI workloads accelerating deployment, providing long-term growth drivers [1] Group 4: Capital Feedback Mechanism - The ability of the company to establish a more stable and regular capital feedback mechanism is identified as a medium to long-term variable [1]