Key News Facts
Bill Ackman, the billionaire founder of Pershing Square Capital Management, acquired 5,823,316 shares of Amazon (NASDAQ: AMZN) during the second quarter of 2023, as revealed in his firm’s Form 13F, filed on August 14. This stake, valued at nearly $1.3 billion, makes Amazon Ackman’s fourth-largest holding. Pershing Square has $13.7 billion in assets under management.
Analysts project that Amazon’s cash flow could more than double from $11.04 per share in 2024 to $24.32 per share by 2027, driven by its high-margin services, particularly Amazon Web Services (AWS), which accounted for 32% of the global cloud infrastructure spend in Q1 2023, valued at approximately $90.9 billion. AWS is on pace for over $123 billion in annual revenue, growing at a rate of 17% to 19% year-over-year.
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