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Amazon Partners With Bharti Airtel In Push For Cloud Business In India

Amazon Web Services (AWS) and telecom operator Bharti Airtel announced a multi-year collaboration to offer a comprehensive set of cloud solutions to large enterprise as well as small and medium enterprise (SME) customers in India.

As part of the strategic collaboration, Amazon’s (AMZN) cloud business will help  Airtel offer its customers a range of cloud services from data migration, artificial intelligence, to analytics. The services include Windows on AWS, SAP on AWS, VMware Cloud on AWS, database migration, and security and risk governance solutions. In addition, Airtel Cloud will leverage AWS’s innovation and transformation services across analytics, data warehousing, Internet of Things (IoT), and machine learning (ML) to help customers adopt new services and migrate to the cloud from legacy infrastructures.

“Indian companies are using the cloud to innovate, and in order to operate at an increased scale and speed. Many need partners like Airtel, with deep cloud expertise and an industry-focused approach to support them,” said Amazon’s Puneet Chandok. “This collaboration gives customers a single point of contact when dealing with complex migrations or custom-built solutions.”

The partnership comes as the public cloud services market in India is likely to reach $7.1 billion in 2024, growing at a compound annual growth rate (CAGR) of 20.3% from $3.4 billion in 2020, according to the IDC India public cloud services tracker.

Airtel has over 2,500 large enterprise customers and serves more than 1 million emerging businesses and companies with an integrated product portfolio, including Airtel Cloud.

Shares in Amazon have been on a steady winning streak jumping a stellar 73% so far this year, with the $ 3,724.09 average analyst price target implying another 16% upside potential is lying ahead in the coming 12 months.

Indeed, Wells Fargo analyst Brian Fitzgerald recently raised AMZN’s price target to $3,900 (22% upside potential) from $3,600 and maintained a Buy rating, following strong 2Q results fueled by exceptionally strong retail performance and continued solid AWS demand.  

“While we acknowledge the exceptional nature of the tailwinds driving near-term results, we expect AMZN share gains will likely ratchet permanently higher as the pandemic drives/ingrains new consumer habits,” Fitzgerald wrote in a note to investors.

Overall, AMZN scores 37 Buy ratings from analysts versus 1 Hold rating adding up to Strong Buy consensus. (See Amazon stock analysis on TipRanks).

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Sharon Wrobel
Sharon Wrobel is a journalist and writer with two decades of experience covering financial news in the U.S., Europe and the Middle East. Her work has appeared in global publications including The Financial Times, Bloomberg and The Jerusalem Post.

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