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May 14, 2024
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look, andy jassy already put his stamp on aws. when jeff bezos stood down as ceo of amazon and andy jassy took the helm he had been at the head of aws. adam selipsky was at the head of tableau and andy jassy ask him to come back in the pandemic. i don't think there is any sense matt garman will discontinue aws's position as the important bottom line driver for that. katie: now let's turn to president biden delivering remarks on policies to boost u.s. jobs. pres. biden: i assume you are standing in case you have to run when the rain starts. have a seat. thank you for all you do to fight for american steelworkers. i mean that sincerely and i want to recognize all labor unions here today. steelworkers, autoworkers, sheet metal workers, ibew, communication workers, boilermakers, machinists. i am proud. you heard me say it before, wall street is important. a lot of good folks are there, but they do not build america. the middle-class built america and unions built the middle class. leaders from key american industries are here includin
look, andy jassy already put his stamp on aws. when jeff bezos stood down as ceo of amazon and andy jassy took the helm he had been at the head of aws. adam selipsky was at the head of tableau and andy jassy ask him to come back in the pandemic. i don't think there is any sense matt garman will discontinue aws's position as the important bottom line driver for that. katie: now let's turn to president biden delivering remarks on policies to boost u.s. jobs. pres. biden: i assume you are standing...
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May 1, 2024
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andy jassy sounding very bullish. i know you touched on some of that very briefly. we saw meta with weaker than expected ad sales and then we saw alphabet and microsoft. can ad sales be a higher growth modifier for the company? can it take over the cloud business with the kind of ground we're seeing here? >> i don't think we'd say it would overtake the cloud business, but i think the signals are very positive from amazon's appetizing business. it maintains very strong growth in the quarter. that was on the back of strong comparatives. it is a high business margin. companies clearly see that spending brings rewards. companies will be very selective about where they allocate their appetizing spend. but on amazon, there's a clear link with product sales and that's really important. that is an aspect that's driving their growth. of course, they've put out prime video as well, and that should be a good driver as well. >> you look at amazon and the so-called ai arms race. you have apple left to record and nvidia. jassey has signaled he wants a platform, not just a chipmak
andy jassy sounding very bullish. i know you touched on some of that very briefly. we saw meta with weaker than expected ad sales and then we saw alphabet and microsoft. can ad sales be a higher growth modifier for the company? can it take over the cloud business with the kind of ground we're seeing here? >> i don't think we'd say it would overtake the cloud business, but i think the signals are very positive from amazon's appetizing business. it maintains very strong growth in the...
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May 1, 2024
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is more broadly that the lever you want to see being pulled by andy jassy? daniel: that conference call was when the most bullish of listen to really in years may be on the back from two quarters ago. he basically said this opportunity with ai is a mosys tremendous and they are willing to spend tens of billions of dollars they're not afraid to spend, we've seen for 18 years in massive technology, they invest aggressively, profit margins get hit a little bit. hockey sticks as people come to realize these guys are ahead of the curve. the same thing is happening with amazon. it bodes very well for the supply chain names. they are the arms providers for this ai race so i think it's positive for the ai ecosystem. ed: you said it was the most bullish call from andy jassy you've heard in quite some time. was it light on details though? the one thing we did not hear is any sort of tangible number for capex other than brian saying it will be meaningfully higher in 2024. >> i don't think they wants to pigeonhole themselves with specifically quantifying the fact that t
is more broadly that the lever you want to see being pulled by andy jassy? daniel: that conference call was when the most bullish of listen to really in years may be on the back from two quarters ago. he basically said this opportunity with ai is a mosys tremendous and they are willing to spend tens of billions of dollars they're not afraid to spend, we've seen for 18 years in massive technology, they invest aggressively, profit margins get hit a little bit. hockey sticks as people come to...
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May 1, 2024
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reheard some of those comments from andy jassy, still implies a 25% upside. why are investors -- stocks are up 2%. why aren't you more impressed by what you heard? >> good morning, frank. i think in some cases, you know, things are playing out kind of exactly as we would have thought and exactly as a lot of the bulls would have thought. and so i think that's maybe the reason the stock's only up a couple percentage points despite the fact it was a very, very good report. on the other hand, this is a stock where people are sort of seeing the case prove out, seeing they can accelerate cloud, mang money on the retail business. that's a stock that can grind higher. in some cases we don't need to see a stock rerate on earnings. steady eddy is kind of a nice pace sometimes, and that's what we think we've got here. >> i want to play a bit of a devil's advocate. why isn't the stock lower on the guidance? if there's so much demand, why is the guidance mixed going forward? >> i think from the top line perspective, you know, i think the retail business, the ceo talked ab
reheard some of those comments from andy jassy, still implies a 25% upside. why are investors -- stocks are up 2%. why aren't you more impressed by what you heard? >> good morning, frank. i think in some cases, you know, things are playing out kind of exactly as we would have thought and exactly as a lot of the bulls would have thought. and so i think that's maybe the reason the stock's only up a couple percentage points despite the fact it was a very, very good report. on the other hand,...
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May 2, 2024
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we talked about even andy jassy. they've had great success in large part, talked about trade down he's seeing among consumers. how worried are you about that >> i'm not too worried the sensitive indicators i see are not yet turning downward you know, you do see some caution and resistance to higher prices i think that's one of the things that's going to keep that inflation under control. you know starbucks prices, great quality but it's high and people aren't saying, hey, you know. i'm not necessarily going to go for that i think that, that is one of the factors that is going to keep inflation lower listen, i mean, consumers are going to be thrifty, but i don't see a downturn the sensitive indicators obviously, friday we get the employment report, i think actually, what in a half hour, less than half an hour, unemployment claims i like to look at that as a weekly indicator the spending weekly indicators i see do not see a decisive weakening. i still think this economy is moving along 2%, 3% real gdp rate. >> you thin
we talked about even andy jassy. they've had great success in large part, talked about trade down he's seeing among consumers. how worried are you about that >> i'm not too worried the sensitive indicators i see are not yet turning downward you know, you do see some caution and resistance to higher prices i think that's one of the things that's going to keep that inflation under control. you know starbucks prices, great quality but it's high and people aren't saying, hey, you know. i'm...
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May 14, 2024
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jassy. turned out he brought back so lipsky, but this was not a surprise to anyone who followed that trajectory. ed: the market was a bit worried, if you call a percentage point line a knee-jerk reaction. the question is, what happens next aws? that still accounts for a majority of the operating income for amazon. the new figure that they are giving us is this run of 100 billion dollars in revenue. some where aws sits today. matt: it's the biggest cloud computing company. a bunch of pressure has come hop on the last year and their biggest corporate customers are looking to cut costs, bringing growth down to record lows. they bumped up beyond that, which the market seems to like well enough. the market likes even more than artificial intelligence revenue is starting to minute -- materialize, saying that they are on pace for their couple of billion dollar business over the course of year. not a detail number, but assigned that amazon is gaining momentum after being eaten out of the gate in ter
jassy. turned out he brought back so lipsky, but this was not a surprise to anyone who followed that trajectory. ed: the market was a bit worried, if you call a percentage point line a knee-jerk reaction. the question is, what happens next aws? that still accounts for a majority of the operating income for amazon. the new figure that they are giving us is this run of 100 billion dollars in revenue. some where aws sits today. matt: it's the biggest cloud computing company. a bunch of pressure...
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May 22, 2024
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alexa is a priority for amazon and its ceo according to andy jassy's shareholder letter highlighting alexa what he called substantial gen-i applications back to you. >> the question if they want to impose more rigid profitability standards how much of the a.i.-related features would serve the purpose of feeding everything into the amazon ecosystem and engagement and obviously sales ultimately >> yes, mike different than what microsoft offers for example, a lot of people aren't doing tasks and things that make you more productive on alexa. it's quick interaction thought in the beginning, drive more sales remind people to order thing only amazon. you'd see a bit of that flywheel effect with generative a.i. so different where google and microsoft sit in in the workload told one of the challenges that they're up against the other thing is price point interesting. e don't know where it is priced. told not decided yet open a.i. priceds $20 a month. so interesting if you aren't willing to pay that subscription, for example, for alexa what will it look like still the basic offering and then
alexa is a priority for amazon and its ceo according to andy jassy's shareholder letter highlighting alexa what he called substantial gen-i applications back to you. >> the question if they want to impose more rigid profitability standards how much of the a.i.-related features would serve the purpose of feeding everything into the amazon ecosystem and engagement and obviously sales ultimately >> yes, mike different than what microsoft offers for example, a lot of people aren't doing...
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May 1, 2024
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. >> that was amazon's ceo andy jassy on the earnings call yesterday. the numbers in a quarter are mind-boggling. $143 billion in sales. and a lot of that -- that's a lot of books. they're doing more than selling books. have i got that right, doug? they've branched out a bit? but a lot of it is a resurgence at aws. >> it is. and, joe, they do do more than just books now. $25 billion of the 100 plus that you talk about came from advertising. $25 billion came from aws. so they have a really diverse business now that is driving incredible profit, 10% operating margins. we haven't seen those operating margins at amazon in quite a while. you look at the guide. it was conservative. amazon tends to be conservative. i'm not surprised that the stock is, let's call it close to flat now. wouldn't have even been surprised that the stock was down a little bit, given the report. i think the headline to me was just like meta, just like alphabet, and just like microsoft, amazon talked about a big capex build coming up for 2024 as they invest into this ai opportunity th
. >> that was amazon's ceo andy jassy on the earnings call yesterday. the numbers in a quarter are mind-boggling. $143 billion in sales. and a lot of that -- that's a lot of books. they're doing more than selling books. have i got that right, doug? they've branched out a bit? but a lot of it is a resurgence at aws. >> it is. and, joe, they do do more than just books now. $25 billion of the 100 plus that you talk about came from advertising. $25 billion came from aws. so they have a...
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May 1, 2024
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store comps were down two >> it's a pincer move between the people who come in and the shrinkage and andy jassy, who's decided he wants this business by how quickly he can get the product to you one more reason amazon deserves to be much higher. there is not a business they have gone into and not destroyed. they're coming after grocery stores big-time with this. we have to go there, we should do our show from the small form factory. i can't believe how aggressive they're being. they have any amount of money to play, and karen lynch does not >> the commentary that that is going to be the low for the year will go meaningfully higher as a lot of their customers are sort of done cost apt moptimizing ane back to adding to the cloud structure. >> when you talk to brian, the great cfo there, i had a fight with these guys. i said, what are you doing well, here's what they did they turned it around. and they said they turned it around, and they are good to their word i thought they could only go to low teens. david, they went to high teens, and they did it in an incredibly robust way why is the st
store comps were down two >> it's a pincer move between the people who come in and the shrinkage and andy jassy, who's decided he wants this business by how quickly he can get the product to you one more reason amazon deserves to be much higher. there is not a business they have gone into and not destroyed. they're coming after grocery stores big-time with this. we have to go there, we should do our show from the small form factory. i can't believe how aggressive they're being. they have...
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May 22, 2024
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jassy also telling me that he has been privately frustrated with some of alexa's current capabilities. amazon did not comment on these updates, but tells us that alexa is still a priority for amazon, pointed to the annual shareholder meetings where they call alexa one of their substantial ai applications. >> your report was a big topic of discussion between me and jim in the 9:00 a.m. his point is alexa is deserving of an upgrade. kind of points to the checkered history, the head count, and executive shuffling within that division at amazon, really over the past few years >> carl, that's a great point in terms of the executive shake up. jassy took over from founder jeff bezos in 2021, and bezos, this was really his pet project from people i'm talking to and sources that work there and say that he really was a focus internally this was something that they were able to spend really endless amounts of money on to make work, because it was such a priority for bezos that has changed a bit there's been more cost discipline, belt tightening across the board at amazon, but it's become less of
jassy also telling me that he has been privately frustrated with some of alexa's current capabilities. amazon did not comment on these updates, but tells us that alexa is still a priority for amazon, pointed to the annual shareholder meetings where they call alexa one of their substantial ai applications. >> your report was a big topic of discussion between me and jim in the 9:00 a.m. his point is alexa is deserving of an upgrade. kind of points to the checkered history, the head count,...
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May 1, 2024
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andy jassy said customers are shopping but remain cautious, trading down on price when they can. let's get you a check on starbucks. down 12.5% this morning. sales at the coffee giant fell for the first time since 2020. one analyst called it the worst set of results of any large company so far. if that decline holds it would be the company's biggest drop since 2020 of march. the early days of the pandemic. pfizer is higher, earnings coming out about an hour ago. it raised full-year guidance and sales of covid -- that was thanks to an accounting clerk -- cork. that is your bloomberg brief. jonathan: still giving me a bit of a clinic on the equity market. that read on starbucks is amazing. worst set of results of any large company so far. absolutely remarkable. up next, adp data and a reaction from jonathan pingle of ubs. ♪ jonathan: adp report just seconds away. in our survey, the estimate, 183,000. you know how this game goes. it matters for a second and then we will talk about payrolls for the next two days. the scores look like this going into it. equity futures negative by .
andy jassy said customers are shopping but remain cautious, trading down on price when they can. let's get you a check on starbucks. down 12.5% this morning. sales at the coffee giant fell for the first time since 2020. one analyst called it the worst set of results of any large company so far. if that decline holds it would be the company's biggest drop since 2020 of march. the early days of the pandemic. pfizer is higher, earnings coming out about an hour ago. it raised full-year guidance and...