Amazon(AMZN) 浦银国际证券·2025-02-13 02:23Investment Rating - The report maintains a "Buy" rating for Amazon (AMZN.US) with a target price raised to 232.76 [3][4]. Core Insights - Amazon's Q4 2024 revenue is projected at 20 billion, marking an 88% increase year-over-year, significantly surpassing market forecasts. E-commerce revenue is anticipated to grow by 9%, while AWS revenue is expected to rise by 19%. However, the guidance for Q1 2025 is relatively weak, with revenue expected between 155.5 billion, which is 3.6% below market expectations. Capital expenditures are projected to increase to 704.87 billion, a slight decrease of 0.1% from previous forecasts. Gross profit is projected at 80.58 billion, reflecting a 6.1% decrease, with an operating margin of 11.4%. Net profit is forecasted at $67.11 billion, also down 6.1%, with a net margin of 9.5% [2].