Amazon named a top investment for generative AI
fool.com —
Amazon CEO Andy Jassy highlighted the potential of generative AI, calling it a major technology shift. Analysts from Evercore and Morgan Stanley have named Amazon a top investment choice due to its strong AI capabilities in cloud and retail. Amazon's stock has dropped 18% since February's peak, amid economic concerns. The company is integrating AI across its e-commerce, advertising, and cloud services, with plans to develop 1,000 generative AI applications. Despite potential near-term challenges, Amazon reported an 11% revenue increase last year, driven by advertising and cloud growth. Analysts expect earnings to rise 17% annually through 2026, suggesting the current stock valuation may be undervalued.