In July 2021, Jeff Bezos officially handed the CEO role to Andy Jassy, who had spent 15 years building Amazon Web Services into the world’s leading cloud platform. Jassy’s appointment reflects Bezos’s preference for leaders who embrace the company’s ‘work hard, have fun, make history’ ethos. Bezos credits a childhood lesson from his father—‘do it all the way or don’t do it at all’—with instilling in Jassy a commitment to accountability that has shaped AWS’s growth from zero to over $80 billion in annual revenue by fiscal 2023.

Amazon’s vertically integrated logistics network and Prime subscription ecosystem have driven e-commerce revenue growth of 20% year-over-year in each of the last three quarters, while AWS operating margins have expanded from 25% to 32% over the same period. By contrast, membership-driven retailers report high single-digit profit margins and revenue growth of 10% annually, underscoring Amazon’s diversified revenue streams—from retail to cloud to digital advertising—that collectively generate more than $60 billion in free cash flow per year.

Analysts forecast Amazon’s revenue to compound at 12% annually through 2027, with earnings per share rising at a 20% compound annual rate. AWS, which now accounts for roughly 18% of net sales but over 60% of operating profit, is expected to maintain mid-teens revenue growth supported by artificial intelligence workloads. The digital advertising unit, having grown 35% in the past year, is projected to contribute an incremental $15 billion in revenue by 2027 as brands increase spending on sponsored listings and video ads.

During Q3 2025, Cooper Investors PTY Ltd. reduced its stake in Amazon by 61.8%, selling 40,126 shares and retaining 24,774 shares, representing a $5.4 million position. Meanwhile, Brighton Jones LLC increased its holding by 10.9%, adding 397,007 shares valued at $885 million, and Revolve Wealth Partners LLC upped its position by 4.1% with an additional 986 shares. Institutional ownership remains high at 72.2%, reflecting continued confidence from major asset managers despite periodic portfolio rebalancing.