Amazon

‘s

AMZN

strengthening cloud services portfolio is helping it gain customers.

Boom Technology— commonly known as Boom Supersonic, which provides supersonic flights— is the latest client of Amazon Web Services (“AWS”).

Notably, Boom Supersonic,which is gearing up to bring back supersonic flights to the skies, is going all-in on AWS. This highlights the efficiency and reliability of AWS’s innovative cloud products and services.

Boom Supersonic is developing Overture, which is going to be the first supersonic flight after decades.

The company is leveraging AWS’s robust computing, storage and security services in a bid to innovate commercial supersonic air travel and meet the security and compliance regulations.

More precisely, it will be utilizing AWS’ machine learning, Internet of Things, managed database,and analytics services for its Overture.

Additionally, the company is planning to leverage Amazon Simple Storage Service to build a data lake for its manufacturing operations. Also, Boom Supersonic looks to gather and process real-time data from its manufacturing equipment with the help of AWS IoT Core.

Expanding Clientele

The recent move by Boom Supersonic is in sync with AWS’s strategy to expand clientele.

Apart from this, MercadoLibre, an e-commerce dominant in Latin America, recently selected AWS as its primary cloud provider.

Further, AWS got recently selected by Zalando as the official cloud provider. Zalando will leverage AWS’s machine learning services, analytics, compute, database, networking, serverless, storage and other services in order to enhance the shopping experience.

Further, AWS was selected by Standard Chartered Bank. Moreover, the latter signed a five-year agreement to leverage AWS’sreliable infrastructure and cloud services across its entire business in a bid to digitalize its operations and deliver personalized banking services across its 60 markets worldwide.

Further, Carrier Global entered a multi-year agreement with AWS to develop the Lynx platform with the help of the latter’s IoT, analytics and Machine Learning services.

Notably, expansion will help Amazon in maintaining the dominant position in the cloud market, where competition is intensifying with the growing endeavors of peers like

Microsoft


MSFT

,

Alphabet

’s

GOOGL

Google and

Alibaba


BABA

.

Per the latest Canalys data, Microsoft Azure, Google Cloud and Alibaba Cloud acquired worldwide cloud market share of 19%, 7% and 6%, respectively, in third-quarter 2020, while Amazon led with a 32% share.

Portfolio Strength: Key Catalyst

We believe that AWS’s focus on enhancing service offerings is likely to continue driving momentum across customers.

AWS recently unveiled Amazon DevOps Guru, which improves application availability by using Machine Learning (ML) services.

Additionally, the company rolled out five industrial ML services namely Amazon Monitron, Amazon Lookout for Equipment, the AWS Panorama Appliance, the AWS Panorama SDK, and Amazon Lookout for Vision.

Further, AWS recently made Amazon Managed Workflows for Apache Airflow (“MWAA”) generally available. Notably, the service offers availability, security and improved scalability to customers, while managing their workflows using Apache Airflow.

Furthermore, the company announced the general availability of AWS Network Firewall, which is a new service, well-equipped to protect against common network threats such as intrusion prevention and detection, dynamic packet filtering, and web filtering.

Also, AWS recently made its new visual data preparation tool called AWS Glue DataBrew generally available. The tool provides more than 250 pre-built transformations to automate data preparation tasks.

We believe that the expanding AWS portfolio will continue to aid the company’s dominance in the booming cloud market.

Currently, Amazon carries a Zacks Rank #3 (Hold). You can see


the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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