Amazon(US:AMZN) 智通财经网·2026-01-21 14:40Core Viewpoint - Amazon is expected to regain its position as a leader in cloud computing and a driving force in the U.S. stock market, following years of underperformance compared to peers like Google, Microsoft, and Nvidia. This optimism is fueled by expectations of strong growth in its AWS cloud platform, driven by increasing demand for AI capabilities and a robust developer ecosystem [1][6][9]. Group 1: Stock Performance - In 2025, Amazon's stock was the worst performer among the "Magnificent Seven," with only a 5% increase, significantly lagging behind the Nasdaq 100 index's 20% rise [2]. - Despite a 3.4% drop in early 2026, Amazon's stock showed a slight year-to-date increase, outperforming most of the "Magnificent Seven" except for Google [2]. Group 2: Market Position and Growth Potential - The "Magnificent Seven," which includes Amazon, has been a core driver of the S&P 500 and Nasdaq 100 indices, benefiting from strong revenue growth and robust fundamentals, particularly in AI [5]. - Analysts predict that AWS revenue and operating profit could see growth rates exceeding 40%, similar to the explosive growth seen in the cloud computing boom around 2015 [7][9]. Group 3: AI Integration and Strategic Moves - The surge in demand for AI applications is expected to enhance both Amazon's e-commerce and AWS businesses, improving advertising precision and logistics efficiency [1][6]. - Amazon's AWS has secured a significant long-term contract with OpenAI worth approximately $40 billion, which is expected to boost visibility in cloud computing infrastructure and AI demand [9][13]. Group 4: Valuation and Investor Sentiment - Amazon's current trading price reflects a forward P/E ratio of 24, which is lower than that of Apple, Microsoft, and Google, indicating a relatively cheap valuation historically [10]. - Analysts have become increasingly optimistic about Amazon's profitability, with expectations for a nearly 12% increase in earnings per share by 2026 and a projected 26% growth in operating profit this year [14].