Amazon AMZN is well poised to grow further in the global cloud market on the back of increasing clientele driven by innovating cloud services portfolio.
Recently, its cloud computing arm – Amazon Web Services (AWS) — has joined forces with National Football League (NFL) to develop tools and technologies for enhancing players’ health and safety.
The latest partnership is beneficial for both AWS and NFL. The deal will strengthen AWS’ presence in the field of sports. Further, the deal will enhance NFL’s offerings for its players.
Moreover, this partnership strengthens AWS’ existing client relationship with NFL. This highlights the efficiency and reliability of the segment.
Notably, AWS has been the official cloud and Machine Learnings (ML) provider for the NFL Next Gen Stats platform since 2017.
More on the Headlines
AWS and NFL intend to develop a platform — Digital Athlete — by leveraging the former’s Artificial Intelligence (AI), ML and computer vision technologies such as Amazon Rekognition.
These technologies will be applied to NFL’s data sets to improve player safety and treatment,as well as ultimately predict and prevent injury. Notably, Digital Athlete is likely to work as a computer simulation model for an NFL player that will fit into any kind of game scenario.
Further, the parties are also looking to build computer vision models to detect concussions efficiently. Further, these models will advance the identification process of the forces leading concussions.
Amazon SageMaker, Amazon SageMaker Ground Truth and Amazon Rekognition will be utilized for the development of such models.
All these endeavors are likely to provide profound understanding of the football game. Further, AWS and NFL will be able to introduce needful changes in football as well as in other sports. Further, their continuous efforts are anticipated to enable risk prediction of injuries before they occur.
Portfolio Strength – Key Catalyst
AWS portfolio strength is the key catalyst in winning deals like the one under review. The latest tie-up strengthens the adoption rate of AWS, which in turn will boost the top line.
Moreover, AWS’s customer base is increasing on the back of expanding services portfolio.
AWS recently announced a new service — AWS Wavelength — to offer low latency to customers. Notably, the new service is a combination of AWS compute and storage services as well as cutting edge 5G networks.
The company also launched the preview of Amazon Braket, which is a fully-managed quantum computing service that enables customers to explore and experiment with quantum computing hardware.
Also, the company won many customers recently. Western Union, Klarna, ProSiebenSat.1 Media and Old Mutual have selected AWS as their primary cloud provider.
We believe that expanding clientele will continue to fortify AWS’ dominance in the cloud industry.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector that can be considered are Marchex, Inc MCHX, CommVault Systems, Inc CVLT and Garmin Ltd. GRMN. All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Marchex, CommVault Systems and Garmin is pegged at 15%, 10% and 7.35%, respectively.
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Last year, it generated $24 billion in global revenues. By 2020, it’s predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for regular investors who make the right trades early.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Marchex, Inc. (MCHX) : Free Stock Analysis Report CommVault Systems, Inc. (CVLT) : Free Stock Analysis Report Garmin Ltd. (GRMN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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