Amazon’s Price Target Raised on Rapid AWS Growth 
<p>Piper Sandler raised the price target for <a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon (NASDAQ:AMZN)</a> to $150 per share, up from the previous $130, citing a positive outlook for the company's rapidly growing cloud business AWS.</p>
<p>The analysts noted that the trough in AWS revenue growth appears to be approaching. Additionally, they point to a strong interest in AWS AI offerings, as evidenced by Google searches and Reddit data.</p>
<p>The analysts highlighted the positive impact of Nvidia's recent financial results. Both AWS and Nvidia's Data Center revenues have shown a strong correlation of approximately 98% since 2017, suggesting a historic shift in demand towards AI compute, which is expected to have a significant growth runway.</p>
<p>On the other hand, the analyst also emphasized the ongoing optimizations observed in Snowflake's recent earnings report. According to the analyst, these optimizations are being carried out across various cloud providers, and Snowflake, in particular, shares a close alignment with AWS. The analyst suggests that customer vertical exposure might be a factor influencing these optimizations. Furthermore, the analyst points out that in a competitive market, the pricing data for GPUs in AWS appears relatively unappealing.</p>

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