Nasdaq AMZN Amazon

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Biopharmaceutical company Gilead Sciences, Inc. (GILD) has selected Amazon Web Services, Inc. (AWS) as its preferred cloud partner. Meanwhile, shares of Amazon.com Inc. (AMZN), the parent company of AWS, closed up 1.6% at $3,561.57 on November 29.

New and Timely Medicine Delivery

AWS’s machine learning and analytics, together with its healthcare and life sciences experts and partners, will enable Gilead’s scientists to make data-driven decisions. These decisions will improve Gilead’s drug pipeline by giving insights across a series of data, from biomarker discovery through manufacturing and clinical trial recruitment.

AWS for Health provides easy accessibility that accelerates an organization’s innovation, unlocks the potential of health data, and develops personalized solutions for therapeutic care across 16 critical solution areas in healthcare, genomics, and biopharma.

With AWS onboard, Gilead’s research and development team will be able to strengthen their innovation and make informed decisions with valuable insights.

Gilead’s focus is on improving priority areas such as clinical program and study design, patient experience, and centralized statistical adaptive monitoring, which helps Gilead quickly identify and address potential issues related to the management of clinical trials.

Enterprise Resource Planning (ERP)

AWS will also help in transforming Gilead’s workloads for its ERP project to implement SAP S/4HANA throughout the organization. The implementation will enhance important processes including supply chain, finance, operations, and commercial sales across all therapeutic areas and business units.

Furthermore, through the AWS cloud, Gilead will be able to shorten its hardware refresh cycles, increase testing and speed of delivery, and enable improved business planning. Similarly, Gilead will be able to run its ERP system more efficiently by using Amazon Elastic Compute Cloud (Amazon EC2) instance types.

Management Comments

Senior VP of Sales and Marketing at AWS, Matt Garman, said, “By streamlining their IT operations with AWS and taking advantage of our AWS for Health offerings, Gilead has the ability to continuously refine its approach to clinical trials, drug development, manufacturing, and distribution.”

Senior VP and Chief Information Officer at Gilead, Marc Berson, said, “With AWS as our preferred cloud provider, our researchers can use AWS’s portfolio of services to gain the insights, agility, and security needed to deliver new medicines at speed, and treat the individual according to their unique needs, not just the disease.”

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Analysts’ Take

With 31 unanimous Buys, the stock commands a Strong Buy consensus rating. The average Amazon.com price target of $4,095 implies 14.98% upside potential to current levels. Shares have gained 12.4% over the past year.

Website Traffic

TipRanks’ Website Traffic tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into AMZN's performance.

In October, Amazon website traffic recorded a 30.64% year-over-year decline in monthly visits. Similarly, year-to-date website traffic growth decreased 2.39% compared to the same period last year.

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What happened Shares of Amazon (NASDAQ: AMZN) were rising 2% Monday morning, on hopes Cyber Monday might fare better than Black Friday sales did.

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Amazon (AMZN) has inked a strategic partnership with Abu Dhabi Investment Office. Reuters reports that the two will establish a fulfillment center by 2024. The center is to be built in accordance with the tech giant’s carbon reduction strategies. AMZN shares fell 2.15% to close at $3,503.5 on November 26.

Amazon is a U.S. company that provides online retail shopping services and cloud computing services. The company operates through three business segments: North America, International, and Amazon Web Services.

Abu Dhabi Fulfillment Center

The fulfillment center should create thousands of jobs while also enhancing Abu Dhabi’s logistics sector. Furthermore, it is expected to benefit the retail ecosystem at a time when e-commerce is growing at an impressive rate. The construction of the fulfillment center will also align with the United Arab Emirates UAE ambitions to achieve net-zero emissions by 2050. (See Top Smart Score Stocks on TipRanks)

Analyst Rating

Last week, Guggenheim analyst Seth Sigman reiterated a Buy rating on Amazon with a $4,300 price target, implying 22.73% upside potential to current levels. The analyst remains bullish as the e-commerce giant enters fiscal 2022. He expects online channel share gains to reaccelerate early next year, after months of declines.

Sigman also expects normalizing consumer spending growth to be good for stocks. The analyst expects a significant positive inflection on Amazon in early 2022, compared to moderating sales and merging trends in the recent past.

Consensus Rating

Consensus among analysts is a Strong Buy, based on 31 Buys. The average Amazon price target of $4,095 implies 16.88% upside potential to current levels.

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A senior Amazon.com Inc executive said it remains too early to predict how the Omicron coronavirus variant will impact consumer spending during the holiday season but suggested that shoppers will press ahead for now.

Plenty of high-growth tech stocks have been hit hard in 2021 despite stellar business performances. Upstart was recently cut in half in a matter of weeks, while Pinterest has had a slow, painful drop this year. However, many of these stocks have been beating expectations and runn