American Tower Boosts Data Power: New 400G AWS Connections To Fuel AI And Big Data At Key US Data Centers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 03 2024
0mins
Should l Buy AMZN?
Source: Benzinga
CoreSite Expansion and AWS Partnership: American Tower's subsidiary, CoreSite, announced the launch of AWS Direct Connect's 400 Gbps Dedicated Connections at select U.S. locations, including an upcoming expansion of its Silicon Valley campus with a new data center expected to be completed by late 2024.
Financial Performance and Stock Update: American Tower reported a 4.6% revenue growth in Q2 2024, with AFFO per share increasing by 9.8%. However, AMT shares are currently down 0.74%, trading at $230.17.
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Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise
44 Analyst Rating
41 Buy
3 Hold
0 Sell
Strong Buy
Current: 210.140
Low
175.00
Averages
280.01
High
325.00
Current: 210.140
Low
175.00
Averages
280.01
High
325.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Revenue Projections: Arm anticipates total annual revenue reaching $25 billion by 2031, a sixfold increase from $4 billion in 2025, with CEO Rene Haas stating that this forecast will drive earnings per share to $9, significantly boosting investor confidence.
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- Revenue Expectations Surge: Arm anticipates total annual revenue of $25 billion, a sixfold increase from $4 billion in 2025, demonstrating the company's competitiveness and profitability in the rapidly growing AI market.
- Positive Market Reaction: Following the chip announcement, Arm's stock rose approximately 13.2% in premarket trading, reflecting investor optimism about the company's future growth prospects, despite a 1.5% decline on Tuesday.
- Expanded Customer Base: Meta is the first official customer for Arm's new chip, with Arm's cloud AI head noting a $1 trillion market size, indicating that the chip will attract more customers opting for its solutions over in-house alternatives, thereby expanding the company's market share and profit opportunities.
See More
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- Investment and Risks: While Alibaba's $100 billion target is attractive, achieving it requires substantial investments in building data centers and scaling computing capacity, and the monetization of AI remains evolving, prompting investors to consider the company's long-term positioning and execution risks in the technology market.
See More
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See More
