Meta Wants In on the Cloud. Is Amazon Stock Still a Buy?

Of all the companies with something to lose from this week's report that Meta Platforms (NASDAQ: META) wants to enter cloud computing, Amazon (NASDAQ: AMZN) would seem to top the list. Amazon Web Services (AWS) is the world's largest cloud provider, and it supplies the majority of Amazon's profits.The report, from Bloomberg on Wednesday, said Meta is designing a cloud service that would rent out its artificial intelligence (AI) computing power and let customers use AI models running on its infrastructure -- a business that would compete with AWS, Microsoft Azure, and Alphabet's Google Cloud. Meta hasn't confirmed any of it, and the report noted the plans could still change.But the market's reaction was telling. While Meta's stock jumped on the news, Amazon shares actually rose modestly on Wednesday, closing at $241.70. So how exposed is AWS, and is Amazon stock still a buy at about $242?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool