Amazon.com Inc. (AMZN) Aktienanalyse
Eine detaillierte Analyse des E-Commerce- und Cloud-Riesen.
Amazon.com Inc. (AMZN) is a global e-commerce and cloud computing behemoth, with its business divided into two primary, highly profitable segments: the high-margin Amazon Web Services (AWS) and its lower-margin, but massively scaled e-commerce business. The company's long-term thesis is underpinned by the continued dominance of AWS in the cloud market and the expansion of its advertising and third-party seller services, which are higher-margin than its core retail operations.
The primary long-term threat is its exposure to regulatory scrutiny, particularly on antitrust grounds. The sheer size and market power of its retail and cloud businesses make it a constant target for government regulators, which could lead to forced breakups or restrictions that would fundamentally alter its business model.
| Zeitraum | AMZN Rendite | S&P 500 Rendite |
|---|---|---|
| YTD | 10.87% | 10.26% |
| 1 Jahr | 22.11% | 17.63% |
| 3 Jahre | 48.96% | 15.86% |
| 5 Jahre | 148.88% | 14.78% |
| Metrik | Wert | YoY-Wachstum | Analyse |
|---|---|---|---|
| P/E Ratio | 33.87 | N/A | AMZN's P/E ratio is elevated, reflecting a premium valuation driven by the high-growth AWS and advertising segments, which investors believe justify a higher multiple than its retail business. |
| Revenue | $593.70B | +13.33% | Revenue growth is robust and well above the sector average, demonstrating strong top-line momentum across all its segments. |
| EPS (Diluted) | $6.55 | +33.33% | The significant YoY increase in EPS is a major positive, indicating improved profitability and operational efficiency. |
| Net Income | $70.62B | +58.99% | The near-60% surge in net income is a standout metric, showing the company's successful efforts to cut costs and transition towards higher-margin revenue streams. |
Direkte Wettbewerber
| Unternehmen | P/E Ratio | Umsatz (LTM) |
|---|---|---|
Amazon.com Inc. AMZN | 33.87 | $593.70B |
Walmart Inc. WMT | 25.5 | $648.13B |
Microsoft Corp. MSFT | 36.97 | $281.72B |
Alphabet Inc. GOOGL | 29.8 | $302.40B |
Disruptoren & Indirekte Wettbewerber
- Shein (Private): Fast-fashion, ultra-fast supply chain.
- Temu (Private): Low-cost e-commerce, direct shipping from manufacturers.
Sentiment Analyse & Aktuelle Updates
Sentiment around Amazon is largely positive. The company's recent Q2 2025 earnings report was a key driver, beating analyst expectations with strong revenue and a substantial increase in net income. The company highlighted improvements in its fulfillment network and the continued, robust growth of AWS, which is seen as a proxy for its long-term health. The latest news also includes expansions of its same-day and next-day delivery services, showcasing a commitment to improving the core e-commerce experience.
Bull Case
The bullish outlook for Amazon is centered on AWS. As AI workloads increase, demand for cloud computing infrastructure will grow exponentially, and AWS is perfectly positioned to capture this market. The bull case anticipates that this high-margin revenue stream, combined with the profitability of the advertising and third-party seller businesses, will continue to improve the company's bottom line. Operational efficiencies in its logistics network will lead to further margin expansion, and a strong balance sheet will allow the company to invest in new technologies and maintain market leadership.
Bear Case
The bear case for Amazon focuses on the high expectations already priced into the stock. Any deceleration in AWS growth, intensified competition from Microsoft and Google, or a slowdown in e-commerce spending could lead to a significant valuation reset. The stock is also heavily exposed to regulatory risk, and an unfavorable outcome from an antitrust case could cripple the company's ability to operate as a unified entity. The rise of direct-to-consumer disruptors also presents a long-term threat to its core retail business.