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Amazon to invest 7.8 billion euros in German data centers

Amazon Web Services (AWS) announced on Wednesday plans to invest as much as EUR 7.8 billion in Germany through 2040 in relation with a cloud computing infrastructure being established specifically for Europe.

According to a report by Reuters, AWS intends to launch several data centers in the state of Brandenburg by the end of next year, which will be available to all clients.

The investment is to support 2,800 full-time jobs on average in local businesses every year, the report stated.

Last week, the company had announced that it would help Telefonica Germany transfer one million 5G clients to its cloud platform.

Stock Performance

The shares of Amazon.com Inc (AMZN) closed 0.27% ($0.50) higher at $187.07 on Nasdaq on Tuesday, as they snapped a two-day streak of losses.

The company’s total market cap now stands at $1.947 trillion.

The shares of Amazon.com Inc (AMZN) went up 80.88% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 23.12% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, all 40 surveyed investment analysts offering 12-month price targets for Amazon.com Inc’s stock had rated the latter as “Buy”. The median price target on the stock stands at $220.13, which translates into a 17.67% upside compared to the closing price on Tuesday.

The high point of the analyst forecast range stands at $245.00.

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