AMZN had strong cloud numbers too

Amazon had revenue and FCF down because of inflation, rising wages, supply issues, etc, but that was their consumer facing retail business. However, AWS, which is the cloud business that matters to us as an advance signal for our companies, did just fine and rose 38% yoy. A little less percentage-wise than Azure and Google cloud who were in the 40’s, but AWS is a lot bigger than either of them.

Saul

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