Will89
2021-02-03
Jassy is a great leader.
Amazon CEO Jeff Bezos is stepping down — here's why Amazon stock isn't crashing
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But that isn’t what happened on Tuesday evening, when Bezos stunned the business world by announcing he would transition to the executive chair role in the third quarter.</p>\n<p>In his place is long-time right hand man Andy Jassy, currently CEO of Amazon Web Services (AWS). Jassy joined right after Amazon’s IPO in 1997 and has built the AWS business from the ground floor over nearly two decades.</p>\n<p>Yet, Amazon shares rose by as much as 2% in after-hours trading on Tuesday. Pros point to several reasons why.</p>\n<p>First, Jassy is a direct disciple of Bezos’ hard-charging leadership style, according to Business Insider. He is no nonsense, and known for his incredible attention to detail. In effect, he was long seen as the heir apparent to Bezos and very much groomed for the top job.</p>\n<p>The read: Jassy could keep Amazon winning in all facets of the business.</p>\n<p>And that brings us to reason number two: Jassy has built a beast of a business in AWS that is a bulk of the company’s profits. The AWS business saw sales surge 30% year-over-year to $45 billion in 2020. At $13.5 billion last year, AWS’ operating profits represented 60% of the total operating profits of the company. AWS is seen as boasting a dominant 30% market share of the cloud computing market.</p>\n<p>Fourth quarter operating margins for AWS rose to 28.1% from 26.1% a year ago.</p>\n<p>The read: Jassy deserves to lead Amazon overall since he arguably has built Amazon’s most important (at least financially) business. His knowledge of AWS is critical as Microsoft turns up the heat on Amazon in the cloud.</p>\n<p>“The cloud arms race is now hitting another gear with Jassy taking over,” Wedbush tech analyst Dan Ives tells Yahoo Finance. “Andy is a cloud titan.”</p>\n<div>\n</div>\n<p>And last but not least, Amazon blew it out of the water in the fourth quarter as people shopped online during the COVID-19 pandemic and businesses upgraded to Jassy’s cloud services. Net sales rose 44% year-over-year to $125.6 billion. Operating profits nearly doubled from a year ago to $6.9 billion.</p>\n<p>“Keep inventing, and don't despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1,” Bezos wrote in a letter to employees.</p>\n<p>As of right now, there is no despair being seen among Amazon investors. And that makes a lot of sense.</p>\n<p><em><strong>Brian Sozzi</strong></em><em><strong> is an editor-at-large and </strong></em><em><strong>anchor at Yahoo Finance</strong></em><em><strong>. Follow Sozzi on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> </strong></em><em><strong>@BrianSozzi</strong></em><em><strong> and on </strong></em><em><strong>LinkedIn</strong></em><em><strong>.</strong></em></p>\n<p><strong>Find the latest in business and finance news </strong><strong>here</strong><strong>.</strong></p>\n<p><strong>What’s hot from Sozzi:</strong></p>\n<ul>\n<li><p><strong>NBA great Ray Allen: how the country could come together post Trump</strong></p></li>\n</ul>\n<ul>\n<li><p><strong>Grammy award winner Ciara: here is my hope for the country</strong></p></li>\n</ul>\n<ul>\n<li><p><strong>T-Mobile CEO on his response to the Capitol Hill riots</strong></p></li>\n</ul>\n<ul>\n<li><p><strong>Melinda Gates: we are giving $250 million more to the COVID-19 relief effort</strong></p></li>\n<li><p><strong>Olympics great Michael Phelps: the COVID-19 pandemic hasn’t been all smiles for me</strong></p></li>\n</ul>\n<ul>\n<li><p><strong>Lululemon founder: retail will rally back after the pandemic</strong></p></li>\n</ul>\n<ul>\n<li><p><strong>Walmart CEO: the lack of stimulus is taking its toll</strong></p></li>\n</ul>\n<p><em><strong>Watch Yahoo Finance’s live programming on </strong></em><em><strong>Verizon FIOS channel 604</strong></em><em><strong>, </strong></em><em><strong>Apple TV</strong></em><em><strong>, </strong></em><em><strong>Amazon Fire TV</strong></em><em><strong>, </strong></em><em><strong>Roku</strong></em><em><strong>, Samsung TV, Pluto TV, and </strong></em><em><strong>YouTube</strong></em><em><strong>. Online catch Yahoo Finance on </strong></em><em><strong>Twitter</strong></em><em><strong>, </strong></em><em><strong><a href=\"https://laohu8.com/S/FB\">Facebook</a></strong></em><em><strong>, </strong></em><em><strong>Instagram</strong></em><em><strong>, </strong></em><em><strong>Flipboard</strong></em><em><strong>, </strong></em><em><strong>SmartNews</strong></em><em><strong>, </strong></em><em><strong>LinkedIn</strong></em><em><strong>, and </strong></em><em><strong>reddit</strong></em><em><strong>.</strong></em></p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon CEO Jeff Bezos is stepping down — here's why Amazon stock isn't crashing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon CEO Jeff Bezos is stepping down — here's why Amazon stock isn't crashing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 07:06 GMT+8 <a href=https://finance.yahoo.com/news/amazon-ceo-jeff-bezos-is-stepping-down-heres-why-amazon-stock-isnt-crashing-230652383.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amazon (AMZN) founder and CEO Jeff Bezos is a once in a generation inventor that has fundamentally changed how humans buy stuff and interact with the internet.\nSo the first thought is that Amazon’s ...</p>\n\n<a href=\"https://finance.yahoo.com/news/amazon-ceo-jeff-bezos-is-stepping-down-heres-why-amazon-stock-isnt-crashing-230652383.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/vHOidHYf63dAsRNEjnXZ8A--~B/aD0yMjcyO3c9MzUwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-images/2020-01/f9299c70-3d60-11ea-afb7-01e4c5e892d6","relate_stocks":{"MSFT":"微软","03086":"华夏纳指","QNETCN":"纳斯达克中美互联网老虎指数","AMZN":"亚马逊","CRM":"赛富时","09086":"华夏纳指-U"},"source_url":"https://finance.yahoo.com/news/amazon-ceo-jeff-bezos-is-stepping-down-heres-why-amazon-stock-isnt-crashing-230652383.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2108093737","content_text":"Amazon (AMZN) founder and CEO Jeff Bezos is a once in a generation inventor that has fundamentally changed how humans buy stuff and interact with the internet.\nSo the first thought is that Amazon’s stock would crash at the mere utterance of Bezos stepping down as the company’s fearless leader. But that isn’t what happened on Tuesday evening, when Bezos stunned the business world by announcing he would transition to the executive chair role in the third quarter.\nIn his place is long-time right hand man Andy Jassy, currently CEO of Amazon Web Services (AWS). Jassy joined right after Amazon’s IPO in 1997 and has built the AWS business from the ground floor over nearly two decades.\nYet, Amazon shares rose by as much as 2% in after-hours trading on Tuesday. Pros point to several reasons why.\nFirst, Jassy is a direct disciple of Bezos’ hard-charging leadership style, according to Business Insider. He is no nonsense, and known for his incredible attention to detail. In effect, he was long seen as the heir apparent to Bezos and very much groomed for the top job.\nThe read: Jassy could keep Amazon winning in all facets of the business.\nAnd that brings us to reason number two: Jassy has built a beast of a business in AWS that is a bulk of the company’s profits. The AWS business saw sales surge 30% year-over-year to $45 billion in 2020. At $13.5 billion last year, AWS’ operating profits represented 60% of the total operating profits of the company. AWS is seen as boasting a dominant 30% market share of the cloud computing market.\nFourth quarter operating margins for AWS rose to 28.1% from 26.1% a year ago.\nThe read: Jassy deserves to lead Amazon overall since he arguably has built Amazon’s most important (at least financially) business. His knowledge of AWS is critical as Microsoft turns up the heat on Amazon in the cloud.\n“The cloud arms race is now hitting another gear with Jassy taking over,” Wedbush tech analyst Dan Ives tells Yahoo Finance. “Andy is a cloud titan.”\n\n\nAnd last but not least, Amazon blew it out of the water in the fourth quarter as people shopped online during the COVID-19 pandemic and businesses upgraded to Jassy’s cloud services. Net sales rose 44% year-over-year to $125.6 billion. Operating profits nearly doubled from a year ago to $6.9 billion.\n“Keep inventing, and don't despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1,” Bezos wrote in a letter to employees.\nAs of right now, there is no despair being seen among Amazon investors. And that makes a lot of sense.\nBrian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.\nFind the latest in business and finance news here.\nWhat’s hot from Sozzi:\n\nNBA great Ray Allen: how the country could come together post Trump\n\n\nGrammy award winner Ciara: here is my hope for the country\n\n\nT-Mobile CEO on his response to the Capitol Hill riots\n\n\nMelinda Gates: we are giving $250 million more to the COVID-19 relief effort\nOlympics great Michael Phelps: the COVID-19 pandemic hasn’t been all smiles for me\n\n\nLululemon founder: retail will rally back after the pandemic\n\n\nWalmart CEO: the lack of stimulus is taking its toll\n\nWatch Yahoo Finance’s live programming on Verizon FIOS channel 604, Apple TV, Amazon Fire TV, Roku, Samsung TV, Pluto TV, and YouTube. Online catch Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, and reddit.","news_type":1},"isVote":1,"tweetType":1,"viewCount":396,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":20,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/314348238"}
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