Amazon’s Bull Case Just Got Stronger Thanks to a Huge Pentagon Contract
Yahoo! Finance
The Pentagon announced the issuance of several contracts worth up to $9 billion for a cloud-computing project called the Joint Warfighting Cloud Capability. The news comes a little over a month after Amazon’s cloud business, AWS, reported revenue growth of 27% for the third quarter—the slowest increase since 2014 and well below the 32% Wall Street had penciled in. Amazon’s stock is down 47%, to $90, this year, versus a 30% drop in the Nasdaq Composite.
Continue Reading