Amazon ( AMZN Quick Quote AMZN - Free Report) continues to ride on its robust cloud computing arm — Amazon Web Services (“AWS”). The solid customer momentum of AWS is driving the company’s top line. NXP Semiconductors ( NXPI Quick Quote NXPI - Free Report) has selected AWS as its preferred cloud provider. This highlights the efficiency and reliability of AWS’s innovative cloud products and services. Notably, NXP Semiconductors is shifting its electronic design automation workloads to AWS to bolster its throughput across its design centers. NXP Semiconductors is leveraging AWS’s analytics, Machine Learning (ML), storage, analytics, and capabilities in high-performance computing. To be precise, it is utilizing Amazon QuickSight for generating robust engineering and operational insights, and Amazon SageMaker for structuring application licenses. Further, Amazon FSx for Lustre is being used to store petabytes of design simulation data. Additionally, NXP Semiconductors is using Amazon Simple Storage Service and AWS Glue to build a data lake. Expanding Customer Base
The latest selection by NXP Semiconductors adds strength to its expanding clientele.
Recently, AWS got selected by Arctic Wolf Networks as the primary cloud provider. Arctic Wolf will leverage AWS’s containers, serverless, analytics, database, compute, and storage to bolster its cloud-native security operations platform. Sun Life ( SLF Quick Quote SLF - Free Report) picked AWS as its long-term cloud technology provider. Sun Life will leverage analytics, ML, storage, security, and databases to deliver an enhanced digital experience to customers. AWS collaborated with Wyndham Hotels & Resorts. AWS’s cloud technologies will be used by Wyndham for developing digital services and providing better experiences to customers across 21 hotel brands. Notably, Wyndham has selected AWS as its preferred cloud provider. We believe that the expanding customer base will continue to drive AWS’s top line. In second-quarter 2021, AWS generated revenues of $14.8 billion (13% of Amazon’s net sales), which rose 37% year over year. Strengthening clientele will continue to aid its competitive edge against peers like Microsoft, Alibaba, IBM and Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google, which are also leaving no stone unturned to strengthen their cloud market position. Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Portfolio Strength
We believe that AWS will continue to witness growth in its clientele on the back of its efforts toward expanding its service offerings.
The company made its new capability in QuickSight called Amazon QuickSight Q generally available. Amazon made its new storage service called Amazon FSx for NetApp ONTAP generally available as well. The company made its fully managed data visualization service called Amazon Managed Grafana generally available. The service allows customers to track operational and IoT data from various sources by creating Grafana dashboards seamlessly. The company made its fully managed in-memory database — Amazon MemoryDB for Redis —generally available. Amazon MemoryDB is Redis-compatible, which helps in the storage of the entire datasets in memory. The company announced the general availability of Amazon EBS io2 Block Express volumes, which bolstered AWS’s storage area network capabilities. EBS io2 Block Express volumes are equipped with SAN features like multi-attach and elastic volumes. The company announced the general availability of Amazon Healthlake, which extracts and analyzes important health-related information, and securely stores them on the cloud. We believe that the expanding AWS portfolio will continue to aid Amazon’s dominance in the booming cloud market.