“Amazon continues to demonstrate impressive execution on key growth initiatives, as demonstrated by accelerating revenue across AWS, Advertising, and 3P services, which fueled the significant profitability beat. With the price of annual US Prime membership set to increase to $119 (first increase in four years), we believe Amazon’s selection/convenience competitive advantage will only increase, as the company aggressively expands into underpenetrated verticals (home/kitchen, apparel), augments fast delivery, and increases Prime video selection.”
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