Investing

The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. 

Ivan Alvarado | Reuters

Amazon has faced increasing antitrust pressure this year in both the U.S. and European Union and, on Monday, Oppenheimer warned that the tech giant may have to spin off its lucrative cloud business.

Oppenheimer’s note comes as Amazon protests the Pentagon choosing Microsoft for the military’s ‘JEDI’ contract, which could span a decade of cloud services and be worth as much as $10 billion. The contract marked a major win for Microsoft’s cloud business but Amazon said that “the JEDI evaluation process contained clear deficiencies, errors, and unmistakable bias,” in a a move which is unlikely to take regulatory heat off Amazon. 

Products You May Like

Articles You May Like

Stocks making the biggest moves after hours: Ulta, CrowdStrike, Zoom Video and more
E-commerce billionaire Michael Rubin: There needs to be ‘more pressure’ on wealthy to give back
One step you can take in 2020 to head off a tax surprise
People in this state take the most time to pay off their credit cards
Black Friday shopping at brick-and-mortar stores dropped by 6% as consumers spent record online

Leave a Reply

Your email address will not be published. Required fields are marked *