Sterling Financial Planning Inc. Takes a Stake in Amazon.com Worth Over Half a Million Dollars
Sterling Financial Planning Inc., a financial services company, has purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) worth approximately $610,000.
The purchase was made during the second quarter and consists of 2,561 shares of Amazon's stock. This move is not an isolated incident, as several other large investors have also recently increased their holdings in Amazon. These include Burnham & Co LLC, Robinhood Asset Management LLC, Heron Bay Capital Management, Callan Family Office LLC, and Expressive Wealth LLC.
AWS demand continues to accelerate, with reports citing a $169 billion annualized revenue run rate and a large cloud backlog. This growth in AWS is expected to translate into future sales, despite near-term cash-flow pressure. Amazon's agreement to purchase up to $8 billion of backup generators from Generac will also help bring AWS data centers online.