Amazon’s ( AMZN Quick Quote AMZN - Free Report) strong efforts toward expanding cloud compute offerings are testaments to its customer-oriented focus. Notably, this will help its cloud division Amazon Web Services (“AWS”) to expand presence in the booming cloud market further. The move to make its new managed security service — AWS Network Firewall generally available is evidence of the same. Notably, the new service is well-equipped to protect against common network threats such asintrusion prevention and detection, dynamic packet filtering, and web filtering. AWS Network Firewallcan be enabled in users’ desired Amazon Virtual Private Cloud (“VPC”) environment, which, in turn, will activate granular network protections across the AWS workloads. Moreover, this can be done without configuring and managing additional security infrastructure. Further, users are allowed to frame AWS Network Firewall rule-based policies, which can be thenapplied to their VPCs and accounts with the help of AWS Firewall Manager Console and API. We believe that all these features are expected to boost the adoption rate of the new service, which, in turn, will drive AWS’s top line. Expanding Service Portfolio
The latest move broadens the portfolio of AWS services and products.
Apart from AWS Network Firewall, AWS announced the general availability of its new visual data preparation tool called AWS Glue DataBrew, which provides more than 250 pre-built transformations to automate data preparation tasks. Further, customers can clean and normalize data with the help of AWS Glue DataBrew, without even writing code. Further, the company made its new Amazon EC2 capability namely AWS Nitro Enclaves generally available. AWS Nitro Enclaves offer a trusted, highly isolated and hardened environment for processinghighly sensitive data. Also, AWS made Amazon EC2 P4d instances generally available. Notably, these instances are ideal for machine learning training and high-performance computing workloads. Additionally, it made the new time series database called Amazon Timestream generally available. The new database helps customers in collecting, storing and processing time series data. AWS Clientele to Grow
We believe that expanding cloud offerings will continue to aid AWS in delivering a better user experience, which, in turn, will strengthen its client base.
Recently, AWS was selected by Standard Chartered Bank. Moreover, the latter signed a five-year agreement to leverage AWS’sreliable infrastructure and cloud services across its entire business in a bid to digitalize its operations and deliver personalized banking services across its 60 markets worldwide. Further, Carrier Global entered amulti-year agreement with AWS to develop the Lynx platform with the help of the latter’s IoT, analytics and Machine Learning services. Notably, expanding will help Amazon in maintaining the dominant position in the cloud market, where competition is intensifying with the growing endeavors of peers like Microsoft ( MSFT Quick Quote MSFT - Free Report) , Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google and Alibaba ( BABA Quick Quote BABA - Free Report) . Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 19%, 7% and 6% in third-quarter 2020, respectively, while Amazon led with 32% share. Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double
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